StubHub (STUB) Gets Snubbed on IPO, Falls 6%

Group 1 - StubHub Holdings, Inc. (NYSE:STUB) experienced a 6.38% decline on its first day of trading, closing at $22 per share, indicating a lack of investor interest compared to technology stocks amid the AI boom [1][3] - The company successfully raised $800 million from its initial public offering (IPO) by issuing over 34 million shares, resulting in a market value of $8.1 billion at market close [2][3] - StubHub plans to utilize the IPO proceeds to pay down debt, with the remaining funds allocated for general corporate purposes [3]