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Why Is FuboTV (FUBO) Stock Up 13% Today?

Source: Lori Butcher/ShutterStock.com
FuboTV (NYSE:FUBO) stock is one favorite that retailers continue to focus on. Despite trading down roughly 80% year-to-date (YTD), FUBO stock is rallying hard today. The streaming platform is up about…

Source: Lori Butcher/ShutterStock.com

FuboTV (NYSE:FUBO) stock is one favorite that retailers continue to focus on. Despite trading down roughly 80% year-to-date (YTD), FUBO stock is rallying hard today. The streaming platform is up about 13% currently.

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This impressive move higher comes amid much more bullish market sentiment for higher-risk growth stocks. Right now, a number of FuboTV’s peers in the “retail favorite” genre are also shooting upward.

Macro drivers are a big deal, especially in this market. Today’s bullish reversion is certainly a positive development. However, FUBO also has a company-specific catalyst moving the dial; the company announced that it’s expanding its existing distribution deal for UEFA matches.

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FuboTV will stream four pay-per-view UEFA soccer matches in June. These matches will all feature England. Although the games will be available on other networks, investors seem to like this expansion to pay-per-view.

Let’s dive more into what this move means for FUBO stock investors.

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FUBO Stock Takes Off on Intriguing Catalyst

For streaming companies like FuboTV, finding new ways to generate revenue is a challenge. There are advertising-supported models and subscription models. However, the pay-per-view market provides compelling upside in particular, should these UEFA matches see significant uptake.

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FuboTV’s focus on becoming a leading sports streamer makes FUBO stock a niche name in a niche sector. Many may consider streaming to be mainstream, but there are pockets of opportunity investors seem to want to target. Sports streaming, for instance, could provide significant long-term upside.

So far, FUBO’s results have not necessarily painted a rosy picture in this regard. Like many other unprofitable companies, not all investors are necessarily interested in future earnings. Instead, they’re looking to companies producing real cash flow in the present.

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For those FUBO stock investors, this move to pay-per-view may just pay off.

On the date of publication, Chris MacDonald did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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