FUBO - Don't Buy fuboTV Stock on the Disney-Fueled Dip
2024-02-08 07:20:00 ET
In the streaming market, fuboTV (NYSE: FUBO) has carved out a not-so-lucrative niche for itself. The company focuses on live sports, making its platform a go-to service for cord-cutters looking to watch their favorite teams.
On Wednesday, fuboTV stock tanked following news that Disney , Fox , and Warner Bros. Discovery were teaming up to create a joint venture that will marry the three companies' sports-heavy channels into a new streaming service. While key details, like pricing, are still unknown, increased competition is profoundly bad news for fuboTV.
The problem for fuboTV is simple: Its business model just doesn't work, even without much direct competition. Some sports can be found on various streaming services , including Amazon Prime Video, YouTube, and Disney's ESPN+, but there's nothing as comprehensive as fuboTV's platform.
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Don't Buy fuboTV Stock on the Disney-Fueled Dip