Why fuboTV Stock Popped on Monday
Shares of fuboTV (NYSE: FUBO) popped today, rising by 15% as of 12:15 p.m. EDT, after the company launched its app on LG Electronics' webOS smart TV platform in the U.S. It's also possible that a short squeeze is amplifying the gains, as fuboTV is heavily shorted.
LG smart TVs that have been released since 2018 can now download the fuboTV app directly to stream sports, news, and entertainment channels. The app supports up to six users within a subscription, and users can record content by series or specific teams. The news is a win for fuboTV, as LG is one of the most popular TV brands in the U.S. with an estimated 12% market share in 2020.
The fuboTV app on an LG smart TV. Image source: LG Electronics.
Source Fool.com
