FuboTV Inc., a sports-first streaming TV platform fuboTV (FUBO), saw an influx in subscribers during the third quarter 2021. This drove it to 1 million subscribers. It also saw record viewing hours. However, the company’s shares plummeted in price following a press release announcing the company’s successes. The question is, is FUBO worth trading now at a premium valuation? Continue reading. FuboTV Inc., a streaming service provider, operates a live television streaming platform that broadcasts sports and news content throughout the United States. It reached one million subscribers in its third quarter. This is a sign of the company’s solid business position. FUBO saw a 13% rise in viewing hours over the previous year. This record-breaking figure was achieved with fuboTV users streaming 284 million hours worth of content. In addition, its paid subscribers increased by 108% during the quarter.

Edgar Bronfman Jr. is fuboTV’s executive chairman. He stated, “The one-million subscriber milestone represents a thrilling inflection in our business. With tremendous implications for revenue growth, profitability, especially given the continuing strength of our advertising company,” in a statement.

Investors weren’t impressed with the news release. Since the release of its third quarter financial results, and the surge in subscribers that occurred on November 9, the stock price has fallen 26.7%. FUBO shares have lost 12.4% year-to-date to close yesterday’s trading session at $24.55. The stock currently trades below its 200-day and 50-day moving averages, $27.96 and $25.88 respectively. High volatility is indicated by the stock’s 3.10 beta.

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