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Vivid Seats downgraded to Hold from Buy at Canaccord

Canaccord downgraded Vivid Seats (SEAT) to Hold from Buy with a price target of $23, down from $80. The company reported “soft” Q2 results with marketplace volume declining more than 30% year-over-year, the analyst tells investors in a research note. The firm cites estimates meaningfully and downgraded the shares citing Vivid’s competitive pressure and limited near-term catalysts.

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