FuboTV Inc. (FUBO) is experiencing a notable decline in its stock price today, with shares down significantly. The downturn follows heightened legal scrutiny over the recent merger announcement with Disney's Hulu + Live TV. Legal experts, including former Louisiana Attorney General Charles C. Foti, Jr., are investigating the merger to ensure it meets legal and fiduciary standards, particularly concerning the fairness to FuboTV shareholders. This scrutiny has raised concerns among investors, potentially contributing to the stock's decline.
On Reddit, discussions reflect a mix of optimism and caution among retail investors. Some users on r/fuboinvestors express confidence in the stock's long-term potential, with one stating, "Fubo is far from the top. Even if there is a correction down to the 4-5's, this will go over 10 in the coming weeks for sure." However, others are wary of the current volatility, with one user noting, "This price action is called shake out the weak hands," suggesting that the current dip might be temporary.
FuboTV's stock is currently trading at $4.78, down 12.45% from the previous close of $5.46. Despite being just 30 minutes into the trading day, the stock has already seen an extraordinary volume of 37,118,607 shares traded, representing 131.74% of the average daily volume of 28,176,266 shares, indicating intense trading activity this morning.