Overview
Towards the end of last year, we discussed how Eventbrite (EB) would need to have a more attractive risk/reward profile for investment consideration. As the COVID-19 pandemic has significantly weakened the company's fundamentals and also threatened its long-term prospects, we found it hard to justify a bullish position on the stock. Upon the pandemic, Eventbrite laid off ~45% of its employees to save $100 million for the year. As it entered a distressed situation, it also received a $225 million funding from a PE firm, Francisco Partners. The shares are currently down