Ticketing platform StubHub (STUB.US) raised $800 million in its IPO, but on its first day of trading, the stock price broke and fell 6.4% against the trend.

According to the latest financial news from Zhichong Finance APP, after raising $800 million in its initial public offering (IPO), Stubhub Holdings (STUB.US) saw its stock price drop 6.4% on the first day of trading. The New York-based ticketing platform closed at $22 per share on Wednesday, erasing its initial gains, although it had briefly risen in early trading. The company sold 34 million shares at a price of $23.50 per share on Tuesday, with an initial price range of $22 to $25 per share. Based on the post-issue outstanding shares, the company is valued at approximately $8.1 billion.