FuboTV Inc. (FUBO) is experiencing a rise in its stock price today, driven by the extension of its Cyber Monday deals, which have been made more attractive. The company has announced that its promotional offer of $30 off the first month's subscription will remain active until the end of December, outlasting most competitors whose deals end on December 2. This extended offer is likely to attract new subscribers, enhancing FuboTV's revenue potential. Additionally, former subscribers who reactivate their accounts can benefit from a $25 discount per month for six months, totaling $150 in savings, which is particularly appealing during the peak sports season.
The stock's upward momentum is also supported by the ongoing legal backing from the U.S. Justice Department and 16 states, which have filed briefs supporting FuboTV in its legal battle against a competing sports streaming venture backed by major media companies. This legal support reinforces FuboTV's market position and has likely bolstered investor confidence.
FuboTV's stock is currently priced at $1.69, reflecting a 4.66% increase from the previous close of $1.61. The stock has traded between a high of $1.80 and a low of $1.62 today. Despite being just a few hours into the trading day, the stock has already seen an extraordinary volume of 14,322,190 shares traded, representing 147.17% of the average daily volume, indicating unusually intense trading activity this morning.