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One thing that confuses me about securities is how vague the description is. Why isn't a concert ticket a security if the majority of purchasers are reselling t
by jon_richards 9y ago
One thing that confuses me about securities is how vague the description is. Why isn't a concert ticket a security if the majority of purchasers are reselling them?
- ameliaquining 9y agoPresumably because first-party ticket sellers don't encourage resale. In the U.S., there's a legal test to determine whether something is a security: https://en.wikipedia.org/wiki/SEC_v._W._J._Howey_Co https://en.wikipedia.org/wiki/SEC_v._W._J._Howey_Co.
- gamblor956 9y agoA concert ticket isn't an ownership interest, it's a license/permit to attend an event.