StubHub Holdings, Inc.

Several companies saw significant premarket moves following their latest earnings reports. Tapestry dropped 7% after fiscal fourth-quarter revenue of $1.88 billion only slightly exceeded estimates, while Yeti slipped nearly 4% despite beating earnings expectations. Cerebras Systems tumbled nearly 18% after second-quarter revenue of $180 million missed the $194 million LSEG consensus, and StubHub lost almost 17% on weaker-than-expected adjusted gross margin. Birkenstock jumped 10% on better-than-expected quarterly results and raised full-year guidance, while EnerSys gained 13% after earnings and revenue topped Wall Street forecasts. Grocery Outlet rose 9% and Jack in the Box added more than 6% on earnings beats.

Several companies saw notable after-hours stock moves following their latest earnings reports. Cerebras Systems tumbled 14% after second-quarter revenue of $180 million missed the $194 million LSEG consensus estimate. StubHub lost more than 15% as adjusted gross margin of 82.2% fell short of the 84.3% StreetAccount consensus, though it reaffirmed its full-year adjusted EBITDA outlook. Jack in the Box gained more than 1% after fiscal third-quarter earnings of 96 cents per share beat the 88-cent FactSet estimate, while Red Robin Gourmet Burgers rose nearly 2% on better-than-expected second-quarter results. Coherent slipped almost 3% despite first-quarter guidance above expectations, and Cisco Systems fell 3% after adjusted gross margin only narrowly beat estimates.

StubHub Holdings stock fell 13% this week after the Washington, D.C. City Council passed the RESALE Act, which imposes a 10% cap on secondary-ticket sale markups effective January 1, 2027. Citigroup analyst Jason Bazinet estimated that if such caps average 15% for StubHub, its revenue could take a hit of around 30%, and if about 20% of its ticket sales are subject to legally mandated caps, its EBITDA could slide by roughly $95 million. D.C. joins Maine, Vermont, and Ontario in imposing legal caps on ticket resales, while similar measures are under consideration in New York, Massachusetts, California, and North Carolina. The law is part of a growing trend of jurisdictions targeting ticket resale markups, which are unpopular with consumers facing high live-event prices.

Johnson Fistel, PLLP is investigating StubHub Holdings, Inc. on behalf of investors who suffered losses, examining whether those losses may be recoverable under federal securities laws. The investigation follows a May 13, 2026 disclosure that Andro Capital was a seller on StubHub's platform and that CEO Eric Baker held an ownership interest in both StubHub and Andro, as well as a July 10, 2026 CBC report alleging Baker was a part owner and managing director of Andro, which sold millions of dollars' worth of tickets through StubHub and whose affiliate provided financing to other large-scale resellers. StubHub shares closed at $11.10 on July 10 and fell further to $10.30 on July 13, a decline of approximately 10.6% from the July 9 closing price of $11.52. Investors who purchased StubHub securities and suffered losses are encouraged to contact Johnson Fistel for more information.

Build-A-Bear Workshop is the preferred stock over StubHub for 2026, according to a comparative analysis. Build-A-Bear reported fiscal 2025 revenue of nearly $529.8 million, a 6.7% increase, with net income of approximately $52.2 million and a net margin of 9.9%, while StubHub posted revenue of nearly $1.7 billion, a 1.4% decline, and a net loss of close to $1.9 billion. Build-A-Bear trades at a forward price-to-earnings ratio of 7.6 times and a price-to-sales ratio of 0.7 times, compared to StubHub's 28.0 times and 2.6 times, respectively. The analysis notes that Build-A-Bear offers a proven profitable model and a dividend, whereas StubHub carries heavy debt and significant litigation and regulatory risks despite capturing 50% of the ticket resale market.

Texas Attorney General Ken Paxton has launched an investigation into StubHub over allegations of ghost ticketing, where the company cancels or fails to deliver World Cup tickets after payment. Paxton said his office is looking into reports that StubHub is not delivering tickets that Texas fans rightfully purchased, with soccer fans across the U.S. complaining that their tickets were cancelled days or even hours before events. StubHub blamed transfer problems in FIFA's ticketing platform, but consumers attribute the practice to sellers collecting payments for tickets they do not possess and then cancelling after failing to deliver. Paxton warned that if StubHub is ghost ticketing Texans, his office will use every tool to hold them accountable and urged affected fans to file complaints. StubHub, which acts as an intermediary between buyers and sellers, was not immediately available for comment.

World Cup knockout-stage ticket prices have fallen well below expectations, according to resale tracking site TicketData. The average get-in price for round-of-32 matches dropped 39% from $2,040 to $1,245, while round-of-16 prices fell 28% to $2,080 from $2,895. Sharp declines were also seen for quarterfinal and semifinal games scheduled in July. The retreat from sky-high levels may temper the impact on second- and third-quarter earnings for resellers such as StubHub, Ticketmaster, and Vivid Seats, though analysts note that deep tournament runs by host nations the U.S., Canada, and Mexico would be a positive for those companies.