Vivid Seats sinks after downbeat full-year forecast

Vivid Seats

10/03/2022 18:27

** Shares of online ticket marketplace Vivid Seats Inc
 SEAT.O  plunge nearly 11% to $10.34
    ** Stock sees biggest intraday pct loss since listing shares
late last year; SEAT also one of the biggest pct losers on
Nasdaq 
    ** Co forecasts 2022 revenue between $510 mln to $550 mln,
below Refinitiv IBES est. of $554.44 mln  urn:newsml:reuters.com:*:nGNXSNmvl
    ** SEAT says continues to see impact of COVID-19, but
fourth-quarter revenue of $163.9 mln beats analysts'
expectations 
    ** SEAT went public in Oct 2021 through a merger with a
special purpose acquisition co backed by Los Angeles Dodgers'
part owner Todd Boehly
    ** Shares have lost 5% YTD

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))