Shares of fuboTV (FUBO) are currently trading at a considerable discount to their $62.29 all-time high, which they hit in December 2020. So, can the expected launch of Fubo Sportsbook in the fourth quarter help the stock rebound? Let’s find out. Sports-first live television (TV) streaming platform provider fuboTV Inc. (FUBO) had an impressive stock market debut last October, raising $183 million. The stock has gained 31.1% over the past three months on the back of investors’ optimism surrounding positive developments. The Fubo Sports Network is expected to premiere the first season of Getcha Popcorn Ready with T.O. and Hatch and season two of No Chill with Gilbert Arenas on August 22.
However, FUBO has lost 41.8% over the past six months and 4.5% year-to-date to close yesterday’s trading session at $26.74. Furthermore, it is currently trading 57.1% below its $62.29 all-time high, which it hit on December 22, 2020.
While New York City-based FUBO operates across the United States, Canada, and Spain, streaming giant Netflix, Inc. (NASDAQ:NFLX) has a presence in more than 190 countries worldwide. Also, hedge fund sentiment toward the stock has declined lately, and FUBO has yet to turn a profit. So, the stock’s near-term prospects look bleak.