Amin Harirchian @aharirchian: "🎟️ Why I Added $STUB..."

Sweden

🎟️ Why I Added $STUB (StubHub Holdings, Inc) to My Watchlist❓ Yesterday, I opened a small starter position in StubHub and added it to my watchlist for a potential long-term play. Let me explain why in a simple way. StubHub is the biggest global marketplace for live event tickets, concerts, sports, festivals, theater. They don’t run events; they connect buyers and sellers, taking a fee on every transaction. Think of it as “the secondary market for experiences.” After the pandemic, demand for live events exploded, but the stock has struggled this year because: - The company is still not profitable, - Competition from Ticketmaster, $SEAT (Vivid Seats Inc (Class A)) , $LYV (Live Nation Entertainment Inc) , $EB (Eventbrite Inc) , Viagogo , SeatGeek , etc., - Heavy investment into technology and international expansion. ✔️This is exactly why I’m interested: the story is early, but the fundamentals show strong growth. 🔍 What stands out to me: ☑️Revenue is already $ 1.8B and growing strongly ☑️Gross margin is 80% , this is a high-margin platform business ➕The market cap is $ 4.3 B, which is small if they execute (That was 8B after IPO) ➕Estimated price target ~$ 24, almost 2x from here (based on consensus analyst models), My own PT is 19 dollar. ➕Huge room to scale internationally StubHub also has a classic platform moat, It means: The biggest marketplace = more listings ---> more listings = better prices ---> better prices = more buyers 🔑This cycle is very hard for new players to copy. ⚠️But What I don’t like about this company then? ➖It’s not a perfect business (yet) ➖still losing money ➖the business is sensitive to the economy and event cycles ➖regulatory risk in ticket resale markets ➖Heavy competition This is why I started small and will add only if the execution improves. ✍️I’m not chasing hype, I’m building a position based on: long-term trend of people spending more on experiences, strong unit economics when scale works potential 2026 and the recovery cycle for entertainment. To be clear: I’m not holding a big position now. This is a starter entry, and I will scale up only if the business shows: 1- improving profitability 2- continued revenue growth 3- stronger competitive position StubHub is one of those companies where the real story is 2026+, not only next quarter. If they reach profitability and expand internationally, the upside can be meaningful. For now, it’s on my radar as a high-risk, high-potential platform business that can benefit from the global shift toward spending on experiences instead of things. BR/ A.H ⚠️⚠️⚠️ This post is Not Financial Advice, just sharing my analysis and strategy. I’ll keep you updated if I add more or change the thesis. $NSDQ100