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What You Need to Know About StubHub’s IPO

6 minutes ago

StubHub is braving the new listings markets again.

The online ticketing reseller’s planned IPO will be a test of whether the booming initial public offering market extends beyond high-profile tech and crypto firms—in part because the company earlier this year delayed its own listing plans after President Donald Trump’s “Liberation Day” tariffs announcement roiled markets.

The company, which intends to list on the New York Stock Exchange under the symbol “STUB,” said Monday that it plans to sell more than 34 million shares at between $22 and $25 each, raising $850 million at the top end of the range.

StubHub in its Form S-1 filing with the Securities and Exchange Commission said that it would have nearly 373 million shares outstanding after the IPO, assuming an overallotment option is fully exercised. That would translate to a market capitalization over $9.3 billion if the IPO is priced at the top of the range.

Like BNPL FIRM KLARNAStubHub is reviving an IPO plan that was pulled in April. StubHub had reportedly shelved an even earlier attempt last summer because of weak market conditions in a deal that would have valued it as much as $16.5 billion, according to CNBC. Both Klarna and Gemini, the crypto firm founded by Cameron and Tyler Winklevossare expected to go public this week.

The market has been booming for tech-linked and crypto IPOs, with shares of design software platform Figma (FIG) more than tripling on its debut at the end of July and shares of Peter Thiel-backed crypto exchange Bullish (Blsh) soaring on their debut last month.

U.S. IPOs have so far this year raised more than $40 billion, according to according to Dealogic data, the highest since the same period in 2021, when it hit a record $229.51 billion.

StubHub said that it had a $76 million net loss in the six months of 2025 on revenue of $872.9 million, wider than the $24 million loss it posted the same period last year on revenue of $803.5 million.

The company was launched in 2000 by CEO Erik Baker and Jeff Fluhr, and was bought by eBay (EBAY) in 2007 before being sold back to Baker in 2019. It cites “intense competition” among its risk factors, in no small part because Ticketmaster operator Live Nation Entertainment (LIV) has a market value approaching $38 billion, according to Visible Alpha data.

–Nisha gopalan

Why QuantumScape is Up About 20% Today

1 hr 33 min ago

If you’ve been waiting for another lively day in trading of QuantumScape’s stock, your wait is over.

Shares of QuantumScape (QS), which is developing batteries for electric vehicles, were recently up 20% to around $9.50. They still have a way to go to reach summer highs—in July they closed above $14—but the move is welcome news to investors who were wondering what might be next after watching the stock’s summer spike, which at the low end saw the shares back below $8.

Today’s move was powered by the news that the company, along with Volkswagen’s battery company PowerCo, demonstrated its solid-state lithium-metal batteries in a Ducati motorcycle at an event in Germany. QuantumScape said it is now poised to “scale our transformative technology to gigawatt-hour production.”

Broadly speaking, solid-state batteries are seen as offering a longer-lasting, safer, and quicker-to-recharge alternative to current batteries. “We are now firmly in the commercialization phase of our company,” executives said in July.

The company’s July update likely inspired some investors to take profits after a wild runup from closing prices below $4.50 in late June; it included a pullback in the high end of its estimated capital spending range for the year, perhaps contributing to some wariness on shareholders’ parts, though it also turned more optimistic about the depth of full-year adjusted EBITDA losses.

A big chunk of that wariness seems to have worn off today.

–David Marino-Nachison

Traders Pricing in Higher Odds of Rate Cuts This Year

2 hr 6 min ago

Market participants are increasing their bets that the Federal Reserve will make multiple cuts to its benchmark interest rate by the end of the year.

Traders now see a 100% likelihood that the Fed will cut the rate at least a quarter point during its policy meeting next week, according to the CME Group’s FedWatch tool, which forecasts movements of the federal funds rate based on fed funds futures trading data. That’s up from the 86% chance that was being priced in a week ago.

The increased expectations are even more evident in fed funds contracts for later in the year.

Traders now see about an 84% likelihood of another rate cut at the late-October Fed meeting, compared to the 48% chance seen a week ago. The FedWatch tool shows about a 77% likelihood of a third rate cut in December, versus 40% just a week ago.

Weaker-than-anticipated employment numbers have boosted rate-cut expectations in recent days, and traders will be looking to inflation numbers this week to further strengthen the case that the Fed policy shift is likely. The central bank has held its key rate steady throughout 2025, after slicing it by a full percentage point in late 2024.

Forward Industries Pivots to Crypto Treasury. Its Stock Soars

3 hr 31 min ago

Forward Industries (FORD) shares soared Monday as the provider of design services for the medical and technology sectors became the latest company to completely shift its business into becoming a cryptocurrency treasury.

Forward Industries announced it was receiving a $1.65 billion investment to “initiate a Solana-focused digital asset treasury strategy,” which it said aligns it “with the fast-growing Solana ecosystem.”

The company said that the funds were coming through a private investment in public equity (PIPE) offering led by Galaxy Digital (GLXY), Jump Crypto, and Multicoin Capital. It added that one of its biggest shareholders, C/M Capital Partners, is also participating.

CEO Michael Pruitt said that the new strategy “underscores our conviction in the long-term potential of SOL and our commitment to building shareholder value by directly participating in its growth.”

The company noted that upon the closing of the PIPE, Multicoin Capital co-founder and Managing Partner Kyle Samani is expected to become Chair.

Forward Industries shares were up 40% in recent trading after nearly doubling earlier in the session.

Just last month, the biotech company formerly known as 180 Life Sciences announced it was shifting its business to an Ether treasury and changed its name to ETHZilla (ETHZ). Similarly, Strategy (MSTR) has adopted a Bitcoin treasury strategy and has become the largest corporate holder of the biggest cryptocurrency.

–Bill McColl

EchoStar Stock Jumps as Firm Sells Spectrum to SpaceX

4 hr 31 min ago

EchoStar (SATS) shares surged Monday as the DISH TV and Boost Mobile operator sold some spectrum licenses to Elon Musk’s rocket and satellite company SpaceX for about $17 billion. It’s the second such major deal in two weeks as the company moved to alleviate pressures from federal regulators.

EchoStar said the deal for its AWS-4 and H-block spectrum allocations included $8.5 billion in cash and up to $8.5 billion in SpaceX stock. In addition, SpaceX will pay $2 billion worth of interest on EchoStar’s debt through November 2027.

EchoStar will also gain access to SpaceX’s next-generation Starlink Direct to Cell service for its Boost Mobile subscribers.

CEO Hamid Akhavan said that teaming with SpaceX would allow the company to realize its vision of providing direct-to-cell satellite connectivity for consumers.

Late last month, EchoStar sold $23 billion worth of low- and mid-band spectrum licenses to AT&T (T). The company noted today that it believes that agreement, along with the SpaceX one, “will resolve the Federal Communications Commission’s (FCC) inquiries.” Officials launched an investigation in May over whether EchoStar was meeting certain requirements for its wireless and satellite rights. President Trump eventually became involved, calling on the two sides to find a resolution.

EchoStar shares were up 18% in recent trading. The stock has gained nearly 250% since the start of the year.

–Bill McColl

Robinhood, AppLovin Soar on News of S&P 500 Inclusion

5 hr 2 min ago

Three new companies will join the S&P 500 later this month.

Trading platform Robinhood Markets (HOOD) and mobile app monetization company AppLovin (APP) are set to join the benchmark index on Sept. 22, according to S&P Dow Jones Indices, part of a quarterly rebalancing.

They will replace Caesar’s Entertainment (CZR) and MarketAxess Holdings (Mktx), respectively. Emcor (Happen), meanwhile, will take the place Enphase Energy (Enph).

Shares of Robinhood and AppLovin were each up about 13% in early trading Monday, while Emcor shares inched higher.

Leading up to the decision, investors engaged in a favored niche pastime: trying to guess—and, perhaps, trade ahead of the news—what the picks might be. Robinhood and and Applovin were popular suggestions; so was bitcoin treasury company Strategy (MSTR), which didn’t make the cut.

S&P Dow Jones Indices has in recent months changed companies both for company-specific business reasons—in August, for example, it tapped Interactive Brokers (IBKR) to replace Walgreens Boots Alliance (WBA) with the latter set to be taken private later this year, while Block (XYZ) joined earlier this summer after Hess was acquired—and as part of its periodic rebalancing efforts.

The S&P 500 rebalancing process takes place quarterly—in March, June, September and December—though no changes were announced in June.

Stocks of companies included in the S&P 500 can benefit because it exposes them to a wider group of investors who could become aware of them through an index. In addition, they can be added to various index funds that track stocks that are part of the S&P 500.

Caesar’s, Enphase and MarketAxess will join the S&P SmallCap 600, S&P Dow Jones Indices said.

–David Marino-Nachison

Major Index Futures Point to Slightly Higher Open

6 hr 21 min ago

Futures tied to the Dow Jones Industrial Average were up 0.1%.

S&P 500 futures rose 0.2%.

Nasdaq 100 futures added 0.3%.