Shares of StubHub Holdings (NYSE: STUB) slipped in their long-awaited market debut on Wednesday, signaling an end to a recent streak of tech-focused companies whose stock prices jumped on their first day of trading.

The ticket sales platform closed at $22.15 a share, down from its IPO price of $23.50 a share, which was announced by the company on Tuesday.

That first-day stumble is in contrast to recent listings from design software firm Figma, crypto exchange Bullish, stablecoin issuer Circle Internet Group, and others that saw their shares jump by double digits when they debuted.

StubHub, which was founded 25 years ago and had been planning an IPO for years, had already priced its shares at the midpoint of their targeted range, whereas many of the companies that went public this year p

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