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Roth Capital Says FuboTV’s ‘Stay-at-Home’ Premium Diminishing -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — The shares of Fubotv Inc The television streaming company (NYSE:) was dropped Tuesday by Roth Capital after it lowered its price target.

FuboTV shares dropped by more than 3% in the early trades, falling to $16.30 from $45.

Aftahi informed investors that the premium of “staying at home” which many stocks enjoyed during the pandemic was waning and that it doesn’t seem relevant right now.

An analyst stated, “The stock is being under pressure by the normalization of streaming multiples” and the slower rollout to sportsbooks or gaming than was expected.

Aftahi also stated that the acquisition of Molotov by the company could make it easier to enter the European market via subscriber acquisition.

Roth Capital retained a buy rating for shares. This was the same as earlier in the month. Aftahi initially set a $45 price targetHe told investors that FuboTV would post a loss of 74c per share for the fourth quarter in 2021.

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