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“The one million subscriber milestone represents an exciting inflection point in our business, with tremendous implications for revenue growth and profitability, particularly given the continued strength of our advertising business,” said Edgar Bronfman Jr., executive chairman, fuboTV, in a released statement.
However, the release failed to impress investors. The stock has declined 26.7% in price since the company reported its third-quarter financial results and surge in subscribers on November 9. FUBO shares have lost 12.4% year-to-date to close yesterday’s trading session at $24.55. The stock is currently trading below its 50-day and 200-day moving averages of $27.96 and $26.88, respectively. The stock has a 3.10 beta, which indicates high volatility.
