Emerald Holding Inc (NYSE:EEX) surges 39.83% on strategic review initiation following acquisition inquiries.

Emerald Holding, Inc. (NYSE:EEX) surged 39.8305% in pre-market trading on December 17, 2025, following strategic developments that reignited investor interest in the B2B event organizer.

The company announced it has initiated a strategic review process after receiving multiple acquisition inquiries, appointing Goldman Sachs & Co. LLC as lead financial advisor. While no definitive deals are guaranteed, the board emphasized a “thoughtful, proactive approach” to evaluating options to maximize shareholder value. CEO Hervé Sedky highlighted the inquiries as validation of Emerald’s market position and the growing importance of live events in driving business growth.

Emerald reaffirmed its 2025 financial guidance, projecting $460–$465 million in revenue and $122.5–$127.5 million in Adjusted EBITDA. The company also noted strong momentum into 2026, underscoring confidence in its core B2B event portfolio and customer retention. Recent earnings showed mixed results, with Q3 revenue exceeding expectations but EPS falling short, reflecting ongoing operational challenges in a competitive sector.

Investors appear optimistic about potential strategic outcomes, though the board has committed to providing updates only upon reaching an agreement or concluding the review. The stock’s sharp pre-market rally suggests market participants are pricing in elevated possibilities for corporate action amid broader sector uncertainty.