Why fuboTV Stock Popped and Then Dropped Today

Shares of fuboTV (NYSE: FUBO) were taking a dive after initially popping early this morning as the sports-based streaming service responded poorly to news that Disney (NYSE: DIS) and Charter Communications (NASDAQ: CHTR) had resolved a dispute that started at the beginning of the month and had led to the removal of Disney's channels from Charter's Spectrum cable service.

The two sides reached an agreement ahead of the first Monday Night Football tonight.

As of 2:18 p.m. ET, fubo stock was down 15.1% after trading as high 10.9% this morning, shortly after the market open, seemingly on the belief that the blackout would persist through tonight's game, driving viewers to fubo.

Source Fool.com