1 Growth Stock to Buy Amid the Market Correction
Companies in the streaming video space have not been delivering the strongest fourth-quarter results. In mid-February, Roku (NASDAQ: ROKU) reported short-term headwinds due to supply chain pressures, and investors sent the stock tumbling. Netflix (NASDAQ: NFLX) also disappointed investors, and shares are down nearly 24% since it reported earnings in early February.
One company in the space that has fared well operationally despite its peers' struggles was fuboTV (NYSE: FUBO). It focuses on providing live TV and live sports on its platform, and as one of the only platforms catering to the live-sports niche, it has seen rapid adoption. In Q4, its revenue grew 119% year over year to $230 million, driven by subscriber expansion of 106%. (Those figures exclude its acquisition of Molotov, France's top live-streaming service, which closed during the quarter.) At the end of Q4, the platform had more than 1.1 million users. As consumers continue to cut the cord and move to streaming platforms, I think Fubo could see continued growth, which is why I think it is a good time to pick up shares.
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Source Fool.com
