Why Is FuboTV Stock Down So Much?
Sports-centric video streaming plus sports gambling sounds like a winning combination, but that hasn't been the case for shares of FuboTV (NYSE: FUBO). The live TV streamer has seen its stock price collapse since peaking late last year. The stock now trades below $20, down two-thirds from its 52-week high.
Lack of growth hasn't been a problem. Revenue nearly doubled in the fourth quarter of 2020 to $105.1 million on an adjusted basis, with subscription revenue up 91% and advertising revenue up 157%. The number of paid subscribers soared 73%, and the number of content hours streamed jumped 66%. FuboTV expects sales to jump as much as 80% in 2021, driven by an anticipated 41% increase in its subscriber base.
Source Fool.com
