December purchase<\/a> of Balto Sports to create a free gaming offering later this year.<\/p>\n<\/div>\nThe company plans to launch a free to play gaming app to all consumers. fuboTV plans to launch the standalone app and then integrated it into the fuboTV experience.\u00a0fuboTV plans to use both acquisitions to launch a sportsbook app, and eventually integrate the app into the company’s streaming service.<\/p>\n
The streaming provider recently revealed a preliminary view on its fourth-quarter results, noting it expects to have 545,000 subscribers for 2020, good for 72 percent year-over-year growth<\/strong>.<\/p>\nWild Ride for fuboTV Stock<\/h2>\n News of the Vigtory transaction is helping fuboTV stock to a gain of 18 percent on volume that’s already nearly triple the daily average of this writing.<\/p>\n
That comes after a wild December ride for the name. Last month, the shares more than doubled, only to give back all of those gains and then some by the time 2020 drew to a close. Analysts are mixed on the stock.<\/p>\n
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In a note out today, Wedbush analyst Michael Pachter calls fuboTV’s Vigtory buy \u201can interesting opportunity,\u201d but points out it is “not a foregone conclusion that it will succeed in this endeavor.\u201d He has an \u201coutperform\u201d rating and a $40 price target on the shares.<\/p>\n<\/div>\n
That’s a kinder assessment than what Kerrisdale Capital laid out last month. On Dec. 30, that research firm said fuboTV stock was trading at a valuation \u201ccompletely unmoored from reality,\u201d and that investors shouldn’t expect the name to morph into the next DraftKings or Netflix.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Shares of online streaming service fuboTV (NYSE:FUBO) are soaring Tuesday after the company said it’s purchasing sports wagering firm Vigtory. The move is expected to aid the buyer’s effort to launch a web-based sportsbook at some point this year. Terms of the deal weren’t disclosed. New York-based fuboTV, which positions itself as a sports-first streaming […]<\/p>\n","protected":false},"author":46,"featured_media":160987,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[32093,1074],"tags":[],"acf":[],"yoast_head":"\n
fuboTV Buying Vigtory to Broaden Streaming Sports Betting Offering<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n