The stock has more than doubled in the last week and is up 16% Tuesday morning
Courtesy of FuboTV
Sports-focused streaming service FuboTV’s stock price continued rocketing higher on Tuesday morning, adding to a recent rally that has seen the company’s share price double in the last week.
About an hour into trading on Tuesday, FuboTV’s stock was up 16.7% to $57.72 per share. That morning surge has almost become commonplace of late, with FuboTV’s stock price already up big since last Tuesday, when it was trading below $27 per share. Take a step back even further — all the way to mid-November — and the service’s rise is even more dramatic, with FuboTV’s stock price up 483% in the last month.
What’s behind the jump? One catalyst looks to be CEO David Gandler’s recent interview with Voices of Wall Street, where he said the company “should be looking at” exclusive live sports deals. Another factor, Gandler pointed to, was the company’s stock moving from over-the-counter trading to the New York Stock Exchange in October. It’s also worth pointing out the streaming market has been booming this year overall, with Roku, for example, up 160% in 2020.
FuboTV offers 117 channels as part of its basic $64.99 per month package. The service has carved out a niche as a go-to spot for sports fans looking to cut the cord, offering NBA TV, NBC Sports Network, Fox Sports, and the NFL Network — along with Fox, CBS, and NBC on the network side.
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