StubHub stretches post-IPO slide amid deal flurry

Black Rock Coffee Bar

19/09/2025 17:19

** Ticket-reselling platform StubHub STUB.N shares slide >7% in their third day of trading, falling as low as $18.93 on Fri, extending post-IPO losses

** On Weds, STUB shares finished down 6.4% after long-awaited $800 mln IPO, and on Thurs, shares shed nearly 7%

** This as the IPO market has resumed a strong comeback after the Labor Day holiday

** Eight of the 10 companies that have debuted so far this month have seen their shares rise, with blockchain lender Figure Technology FIGR.O the biggest winner, up more than 65% from IPO price, followed by coffee chain Black Rock Coffee Bar BRCB.O, up about 40%

** Pattern Group PTRN.O is poised to begin trading today after the e-commerce firm's IPO of about 21 mln shares priced at $14 for $300 mln gross raise

** Below is a current snapshot of deal performance for this month's crop of IPOs so far:

Company
RIC
Debut date
Deal Size ($M)
IPO Price
Current
IPO Return
Sector
Klarna Group
KLAR.N
9/10/2025
$1.37
$ 40
$ 42.89
7.2%
Fintech
Figure Technology
FIGR.O
9/11/2025
$788
$ 25
$ 41.78
67.1%
Blockchain lender
LB Pharmaceuticals
LBRX.O
9/11/2025
$285
$ 15
$ 15.81
5.4%
Biotech
Legence
LGN.O
9/12/2025
$730
$ 28
$ 30.33
8.3%
Industrial
Gemini Space Station
GEMI.O
9/12/2025
$425
$ 28
$ 23.53
-16.0%
Crypto exchange
Via Transportation
VIA.N
9/12/2025
$493
$ 46
$ 49.54
7.7%
Transportation Software
Black Rock Coffee Bar
BRCB.O
9/12/2025
$294
$ 20
$ 27.79
39.0%
Retailer
WaterBridge
WBI.N
9/17/2025
$634
$ 20
$ 22.70
13.5%
Oilfield Services
StubHub
STUB.N
9/17/2025
$800
$ 24
$ 19.35
-17.7%
Ticket exchange
Netskope
NTSK.O
9/18/2025
$908
$ 19
$ 24.00
26.3%
Cybersecurity

 (Lance Tupper is a Reuters market analyst. The views expressed are his own)

 ((lance.tupper@tr.com 1-646-279-6380))