(MT Newswires) -- Although Vivid Seats shares fell to a record low today, CEO Stan Chia points to the company's strong financial performance and operational efficiency since going public in October 2021 via a SPAC.

Chia insists that the company has consistently outperformed both internal and analyst forecasts every quarter. He expresses confidence in the company's long-term performance thanks to a strong team and deep pockets. He reiterates this argument by citing key figures: Vivid Seats projects gross operating profit of 4.35 billion and adjusted EBITDA of 165 million for 2024, accompanied by positive cash flow.

Vivid Seats believes that its share price is undervalued relative to its true worth. In this situation, the company is taking a proactive approach by implementing a $100 million share buyback programme. The aim of this strategic initiative is to correct the discrepancy between the stock market valuation of its shares and its solid reported financial results.

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