FuboTV’s stock tumbles on disclosure of shares sold at deep discount and conservative subscriber outlook
Shares of FuboTV Inc. tumbled Monday after the streaming platform disclosed that it had sold shares at “negotiated discounts” and after it provided “conservative” subscriber guidance due to the size of recent price hikes.
The stock’s selloff marked a sharp reversal from the big gains seen before the opening bell, soon after the company reported a much narrower-than-expected fourth-quarter loss. The stock FUBO dropped 12.9% in morning trading, which puts it on track for the lowest close since Jan. 19.
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