FuboTV Inc. (FUBO) saw a modest increase in its stock price today, closing at $3.99, up 1.53% from the previous close of $3.93. The stock opened at $4.00, reached a high of $4.13, and dipped to a low of $3.86 during the trading session. Despite the positive close, the stock experienced a slight decline of 0.75% in after-hours trading.
The day's movement was influenced by a mix of insider selling and market sentiment. Recent insider transactions have raised concerns, with COO Alberto Horihuela and CEO David Gandler selling significant portions of their holdings earlier in January. These sales have contributed to investor apprehension about the company's future prospects. However, the stock's upward movement today suggests that some investors are optimistic about FuboTV's potential, as reflected in social media discussions. On Reddit, users expressed a mix of skepticism and hope, with one post stating, "Fubo found a solid support level and can now start moving up to test a potential new resistance."
Additionally, a recent research report upgraded FuboTV's price objective from $2.00 to $4.75, which may have contributed to the positive sentiment. Despite the insider selling, institutional investors have shown interest, with several hedge funds increasing their stakes in the company.