Why fuboTV Stock Tanked Friday
Shareholders of fuboTV (NYSE: FUBO) have been on a wild ride since the company went public last year. After a sharp spike up on high potential and speculation, a short-seller report helped knock shares right back down.
After the calendar turned, shares started marching back up with a gain of more than 50% in January. But since the beginning of February, the stock has dropped by 55%, including a decline of more than 15% today.
There was some minor news from the company earlier this week but nothing that should have impacted the direction of the stock. Fubo filed its annual report for 2020 yesterday, but there doesn't look to be anything investors didn't already know. Without any company news, it's likely the stock is just following the recent rotation out of high-growth names into industrials and value stocks.
Source Fool.com
