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Why fuboTV Stock Dropped 9% Monday

TheMotleyFool

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In recent weeks, investors have been rotating out of more speculative names toward value-oriented, and reopening-related stocks. Sports-centric streaming TV service fuboTV (NYSE: FUBO) is one of the volatile names that has taken the brunt of the retrenchment.

That downtrend continued today as competition also has started to heat up in the sports betting approach to streaming TV the company is taking. At the market close, shares were down 9% on the day.

In addition to the overall market's sector rotation, news that fantasy sports and sports betting app DraftKings (NASDAQ: DKNG) has partnered with Dish Network (NASDAQ: DISH) means competition is heating up for fuboTV.

Source Fool.com

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