FUBO Stock Price Shows Sharp Fall; Chance of a Recovery?

Fubo Stock lost over 35% as per the 1-month price chart.
FuboTV Inc.’s market capitalization stands at $232.76 million.

Fubo tv Inc.(NYSE: Fubo) stock slipped over 1.50% on April 05, 2023, and closed at $1.11. FuboTV is a New York based television service provider operating in the United States, Spain and Canada.

Fubotv Inc. released its Q4 2022 financial report on Monday, February 27, 2023. The company’s reported revenue was higher than the estimated figures. The company generated $319.31 Million in revenue in the same quarter. The net income of Q4 22 is -$95.81 million. FuboTV revenue for the same period amounts to $319.31 million despite the estimated figure of $285.57 million.

In the last two quarters of 2023, Fubotv had more revenue than the estimated figures. The company’s estimated revenue for the first quarter of 2023 is $ 303.40 million. According to Fubo’s website, a major portion of its revenue is generated from the subscription model.

More than 95% of total revenue is generated from the United States, and 3% is generated from the rest of the world, including Canada, Spain and others. According to the FuboTV website, J.D. Power ranked the company 1st in customer satisfaction in the list of all live-streaming providers in 2022. Forbes termed FuboTV as “a force in sport streaming.”

There are over 245 institutional shareholders of Fubo; some of them are Vanguard Group Inc. which holds 18,532,950 shares; BlackRock Inc. holds 14,574,658; State Street Corp holds 5,076,009; Morgan Stanley holds 5,070,725, among others.

According to Crunchbase, Fubotv acquired four organizations, including Edisn. Ai, Vigtory, Balto and Molotov. The company acquired Molotov for $190 million. 13 investors fund the streaming company, some of those include Scripps Networks, Northzone, Luminari Capital, Sky UK, AMC Network and 21st Century Fox.

According to Fintel, Vanguard Group Inc. filed an SC 13G/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 21,016,109 shares of Fubotv Inc. (NYSE: FUBO). This represents 10.02% ownership of the company. In their filing dated 2023-02-09, Vanguard Group Inc. reported owning 18,532,950 shares, indicating an increase of 13.40%.

Technical levels

Resistance Level:$1.74 and 1.97

Support Level:$1.00 and 0.77

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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing