Ticketing Platform StubHub Falls 6.4% After $800 Million IPO

StubHub Holdings Inc. shares declined 6.4% in the ticketing platform’s debut after raising $800 million in an initial public offering.

Shares of the New York-based company closed at $22 each on Wednesday, erasing an initial gain. The firm had sold 34 million shares Tuesday at $23.50, after offering them for $22 to $25 each.

The trading gives StubHub a market value of about $8.1 billion based on the outstanding shares listed in its earlier filings.

The US IPO market has been strong in recent weeks, with about $5.3 billion raised since the Sept. 1 Labor Day ...