Buy FUBO stock now before it’s a favorite again

Few months ago, FuboTV (NYSE:FUBO) was a big favorite. As you may remember, investors opted for this sports betting and sports streaming game in late 2020 and early 2021. Yet after its two short-lived rallies? FUBO stock fell from $ 50 to $ 60 per share, before bottoming out at just under $ 20 per share.

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It has since traded sideways, bouncing between $ 20 and $ 30 per share. It’s not quite a favorite anymore, but I wouldn’t call it an underdog either. Simply put, the crowd has mixed feelings for fuboTV today.

Some appreciate its potential. By using its streaming service as a means of attracting customers, it is poised to seize a share of the growing sports betting market. Others? They take a more cautious view.

Either they wait for him to make more progress with his sports betting unit. Or they want to see how he performs in the early markets where he established sports betting operations.

But while the crowds take their time, you might want to dive in. Before becoming a big favorite again. Due not only to the potential success of its sports betting business, but also to the future growth of its streaming business.

The latest with FUBO Stock

As I wrote last month, fuboTV is making progress in gaining access to the sports betting market across the United States. So far, it has established itself in five US states (Arizona, Indiana, Iowa, New Jersey and Pennsylvania). With those five markets under its belt, the company’s sports betting platform is expected to launch by the end of the current fiscal quarter (ending December 31, 2021).

What does this mean for FUBO stock?

For now, investors as a whole are still uncertain whether this platform can compete with the pioneers in space. These established rivals already control a large part of the five sports betting markets mentioned above.

As you probably know, there are several gaming companies that currently dominate the US sports betting market. But as it offers sports fans a seamless integration of sports betting with sports streaming? I would not neglect its chances of gaining market share with the so-called “prime movers”.

Once the initial numbers from its sports betting operations come in and show it does? FuboTV shares could emerge from their recent slump and start to move towards higher prices. News of getting licensed / market access in more states is also likely to help shake things up.

Don’t forget the opportunity with its streaming operation

The focus with FUBO action can be on its sports betting catalyst. But don’t forget that the growth in the company’s streaming business could also act as a catalyst.

In August, after fuboTV posted better-than-expected quarterly results, two analysts on the seller’s side raised their price targets, largely due to the possibility that it would profit from the ‘cord cut’ trend. Specifically, as Oppenheimer’s Jed Kelly pointed out, the company is expected to continue to experience strong growth in subscriber numbers, as its platform is one of the few alternatives to cable TV that offers (according to in Kelly’s words), “a comparable hearing experience at a lower cost”.

I know, you might be wondering ‘how does fuboTV get this content when established media companies pay billions for it? ” Good question. While at first glance this company appears to be an upstart, competing with traditional media companies, the details show it is not. Instead, it is more accurate to say that he partnered with them.

How? ‘Or’ What?

Not only are there dozens of popular sports channels available for viewing through the app. Several of the major media conglomerates have stakes in the company. This bodes well in several ways. This can primarily indicate that the company is not in danger of being “kicked out” from the streaming business. Along with this, the big media investment in the business may be the first step towards one or more of those names outright buying fuboTV.

The verdict on fuboTV

I wouldn’t buy it just for this reason. But the target angle of takeover is certainly interesting when it comes to fuboTV. It’s not just its major media partners who might be interested in buying it. The company’s biggest rivals in the gaming industry may also see it as a great acquisition.

Aside from the buyout potential, consider this a situation to keep on your radar. In recent months, he may have become less of a favorite. Yet in the coming months, as its sports betting operation launches and grows, and its streaming business captures more subscribers, sentiment is set to recede.

With that, you might want to take a closer look at the FUBO stock before the market hits the winning crown.

At the date of publicationn, neither Louis Navellier nor the member of the InvestorPlace research staff primarily responsible for this article held (directly or indirectly) positions in the securities mentioned in this article.

The opinions expressed in this article are those of the author, subject to the Publication guidelines.

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