FuboTV Inc. (FUBO) is experiencing a positive uptick in its stock price today, largely driven by the recent announcement of a significant partnership with Disney. This strategic merger with Hulu + Live TV, which was unveiled earlier this week, has positioned Disney with a 70% stake in the new joint entity, while FuboTV retains the remaining 30%. The deal is expected to enhance FuboTV's market position by leveraging Disney's premium content, such as ESPN, and expanding its subscriber base. Additionally, the merger includes a $220 million cash infusion from Disney, FOX, and Warner Bros. Discovery, which is intended to resolve pending litigation and bolster FuboTV's financial standing.
On Reddit, discussions among retail investors reflect a mix of excitement and speculation about the stock's future. One user on r/wallstreetbets expressed optimism, stating, "I went all in on Fubo as the deal with Disney will happen soon. Fubo will be a $15-20 stock and these options will fly." Another user on r/fuboinvestors highlighted the potential for FuboTV to become a leading sports streaming service, noting, "Fubo’s sports focus paired with Disney’s premium content could attract tons of subscribers." The anticipation of FuboTV's earnings report on January 26th is also contributing to the positive sentiment, with investors eager to see how the merger will impact the company's financial performance.
FuboTV's stock is currently trading at $4.00, a slight increase from the previous close of $3.99. Despite being just over half an hour into the trading day, the stock has already seen a volume of 5,841,471 shares, representing 15.48% of the average daily volume of 37,734,623 shares, indicating active trading this morning.