Why Has fuboTV Soared 95% in Five Weeks?
We're nowhere close to peak fuboTV (NYSE: FUBO) these days, but the bounce has been encouraging for investors of the provider of a fast-growing "sports first" live TV streaming service. The stock has nearly doubled -- up 95% -- since it hit a price below $15 per share just five weeks ago.
The initial catalyst was a blowout quarterly report delivered just hours after the shares hit a recent low on May 11. The buzz for the company's gaming aspirations is also starting to resonate with investors. And it doesn't hurt that a heavy short interest has made fuboTV a trendy meme stock. The last catalyst mentioned will ultimately prove fleeting, but the other tailwinds should give the stock strong momentum in the coming months.
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Source Fool.com
