Still waking up. Walk him around. Walk him around. The kid's no trooper, send him home. (senior moment)
Shares of fuboTV Inc. (NYSE:FUBO – Get Rating) gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $2.97, but opened at $3.55. fuboTV shares last traded at $3.46, with a volume of 296,217 shares traded.
The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.06. The business had revenue of $221.89 million for the quarter, compared to the consensus estimate of $226.02 million. fuboTV had a negative return on equity of 69.79% and a negative net margin of 55.63%.
The company also reported it has laid off staff due to the pandemic. It is dropping the sports betting segment to concentrate on streaming live sports events. I think its major market is soccer fans.
As an aside, the women's soccer championship match filled up London's Wembley Stadium, 87,000 seats. Manchester United trades on the NASDAQ.
Forgot, dammit. Still waking up. According to TD Ameritrade the short interest in FUBO as of 7/15, which no doubt has changed in the past two weeks, was 30 percent. OS 185million, float 164million. Institutional participation still over 40%.