EB - Why Eventbrite's Shares Should Bounce Back
The coronavirus pandemic has wreaked havoc on many companies around the world, but perhaps none has felt the consequences as much as event companies. Event manager Eventbrite (NYSE: EB) saw its shares dive at the end of February, and it has yet to recover. Despite the severe financial waves the pandemic has created, however, Eventbrite has the foundation necessary to weather the worst.
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Given the effects of a prolonged lockdown and continuing social distancing norms, the coronavirus pandemic easily swept in and singlehandedly ruined Eventbrite's last two quarters. Total revenues had more than doubled from 2016 to 2019, and that trend was set to continue through this year. But then the pandemic hit, and events were cancelled left and right.