StubHub Stock Drops 13% Amid New D.C. Law Capping Ticket Resale Markups
StubHub Holdings (STUB) stock fell by 13% over the week due to a new law in Washington, D.C., which limits secondary ticket markups to 10%. The RESALE Act could significantly impact StubHub's profitability as it relies on high resales for revenue. Citigroup analyst Jason Bazinet estimates that if similar laws are adopted more broadly, StubHub’s EBITDA could decline by $95 million.
Tickers: $STUB
Topics: RESALE Act stock price decline StubHub ticket resales