fuboTV (FUBO) is a sports-first television streaming platform that gained traction during its stock market debut last year due to its unique business model. However, the stock has since slumped in price. Investors have been shorting the stock given the company’s operational inefficiencies and negative profit margins. So, currently trading at less than $20, is FUBO an ideal investment now? Read more to find out.Sports-first live television streaming platform fuboTV Inc. (FUBO), which is headquartered in New York City, made its stock market debut through a traditional IPO offering on October 7, 2020. The company raised $183 million through the initial public offering. The stock has since gained 70.9% in price.
However, its shares have been declining over the past year, reflecting concerns surrounding the company’s negative profit margins in a highly competitive industry.
FUBO’s bleak growth prospects have driven many institutional investors and banks to short its stock heavily. FUBO has declined 38.5% in price year-to-date and 29.9% over the past month to close yesterday’s trading session at $17.21.