What Happened?
Shares of live sports and TV streaming service fuboTV (NYSE: FUBO) jumped 5% in the morning session after the major indices rebounded (Nasdaq +1.4%, S&P 500 +1.0%) on hopes that the reported ceasefire between Israel and Iran will hold. This de-escalation in a volatile region helped to ease concerns about potential disruptions to global oil supplies, leading to a notable dip in crude oil prices.
Additionally, dovish signals from Federal Reserve Chair Jerome Powell in his Congressional testimony, reaffirming a "wait-and-see" approach on interest rates, further calmed markets, improving investors' appetite for stocks and other risk assets.
After the initial pop the shares cooled down to $3.34, up 4.9% from previous close.
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What The Market Is Telling Us
fuboTV’s shares are extremely volatile and have had 67 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 11 days ago when the stock dropped 6.5% on the news that the major indices pulled back (Nasdaq -1.3%, S&P 500 -1.1%) as Israel carried out significant strikes on Iranian nuclear and military sites, dramatically escalating fears of a broader conflict in the Middle East.
This development sent crude oil prices surging, as investors feared potential disruptions to global oil supply and a wider regional conflict.
fuboTV is up 137% since the beginning of the year, but at $3.34 per share, it is still trading 38.9% below its 52-week high of $5.46 from January 2025. Investors who bought $1,000 worth of fuboTV’s shares 5 years ago would now be looking at an investment worth $287.50.
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