FuboTV stock ( NYSE: FUBO ) rose 12.5% higher Thursday in its latest double-digit move, as chatter increases about its next steps in sports betting.
Traders Thursday are pointing at an article in betting news site SportsHandle, which takes a look at the company's sportsbook and pronounced fuboTV " ripe for takeover ."
The company noted in its shareholder letter that it was doing a strategic review of the sportsbook and that it was looking for a partner there: It would " no longer go down the wagering path independently ."
Needham analyst Laura Martin's look at potential scenarios resulted in a bull case where fuboTV is taken over by a larger company, allowing for it to add subscriptions at a lower acquisition cost. (Her bear case, meanwhile, comes if sports rights fees rise so aggressively that it pressures fuboTV's profitability odds.)
FuboTV could also be a target for an operator looking to add the live-streaming component, SportsHandle noted, pointing out a BetMGM ( MGM ) connection (Fubo Gaming's Scott Butera led interactive gaming at MGM Resorts) as well as FanDuel ( OTCPK:PDYPY ) serving as the exclusive sportsbook partner.
In any case, all eyes are on fuboTV's Aug. 16 Investor Day to get more insight into betting plans.
Earlier Thursday, network SportsGrid joined fuboTV's lineup . And the stock made a double-digit move on Monday following an unscripted programming deal with actor/producer Ryan Reynolds .
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FuboTV gains 13% as chatter focuses on sportsbook destiny