Why fuboTV Stock Shot Up 22.5% Last Month

fuboTV (NYSE: FUBO) shares popped 22.5% higher last month, according to data from S&P Global Market Intelligence. The streaming TV channel, which focuses on serving sports fans, made a deal with another regional sports network and The Athletic, a premium sports news outlet. The stock is still down 54% year to date (YTD), and down 98% from all-time highs due to heavy cash burn and major share dilution.Here's why fuboTV stock shot up higher last month.On Oct. 25, fuboTV announced it had made a broadcasting deal with the Chicago Sports Network, a local provider in the greater Chicago area that carries the Chicago Bulls, Chicago White Sox, and Chicago Blackhawks games. The deal was made right in time for the hockey and basketball seasons, meaning it could entice some fans in the area to cut the cord and join fuboTV for streaming games. The greater Chicago area has a population of just under 10 million people, which could present a big market opportunity for fuboTV. The company has only 1.6 million total subscribers as of the end of the third quarter.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool