Why fuboTV Stock Jumped 9% Today
After sports programming-focused streaming service fuboTV (NYSE: FUBO) started trading publicly last fall, shares rocketed up more than 400%. Subsequent negative analyst opinions led to a drop of more than 60%, before a rebound up 70% in the last two weeks.
Today, shares jumped almost 20% before settling back to a gain of about 9% to end the day.
The rebound over the past two weeks began after the company announced plans to acquire interactive gaming company Vigtory, and said it expects to launch a sportsbook by the end of 2021. The boost today came without any specific news from the company, but after a Bank of America analyst provided a strong opinion on the growth of streaming television in a positive opinion about streaming platform Roku (NASDAQ: ROKU).
Source Fool.com
