fuboTV operates as a sports-focused live TV streaming company, providing its subscriber’s access to sporting events annually along with some news and entertainment content. The company is headquartered in New York and was founded on February 20, 2009.
fuboTV vs. CBS
National TV affiliates on fuboTV would replace local CBS affiliates. This enraged some local affiliates as they were unhappy with the Paramount deal. The deadline for the local CBS stations to agree with the deal was 5 p.m. EST on January 30, 2023. After that, the local feeds would be replaced by all-national programming, and no local programs would be displayed.
The locals are unhappy with the deal but have already given Paramount rights to stream national feed if locals do not agree to the contract. CBS will likely replace the local programming content with free CBS New streaming services.
fuboTV Price Analysis
At the time of writing, the stock was trading at $2.4000 with a correction of 0.83%. While the previous close was at $2.4200, and the market opened at $2.3600. The 52-week range of the stock is from $1.61000 to $11.8900, meaning the current rate is closer to the lower end of the spectrum.
With a market cap of $468.775 million and a volume of 13.31 million shares, the company’s revenue is $919.78 million, with revenue per share equal to $5.43, while quarterly revenue growth of 43.50%. While the price target is expected to be around $7.89, it is a 228.9% upside. The higher price target is supposed to be $16.00, while the lower price target is around $3.00. Projected Earnings growth is expected to grow from $3.00 to $2.22 per share, while analysts are giving a 2.33 rating for hold. The expected earnings date is February 22, 2023.
fuboTV Chart Analysis
The daily chart shows a clear downward trend line, represented by a white line acting as resistance for the current point, with strong support at the bottom of $1.40.
A clearly visible first resistance is at $3.26; with a slight upward movement, there are chances of the price action respecting the R1. It is expected to consolidate below R1 for quite some time before breaking northward, where R2 is waiting at $3.91.
R1 and R2 would act as a buffer zone where the price is expected to consolidate for some time, and a piece of positive news, if it appears in the market, can drive the price upwards. If the price moves down from its current state, there are chances that it will respect support and bounce back. But if the price moves further down, it might go down considerably before stabilizing.
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Source: https://www.thecoinrepublic.com/2023/01/31/fubotv-does-the-shift-from-local-to-national-cbs-affect-the-price/