Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Television service FuboTV (NYSE: FUBO) has seen its shares fall this week, down over 7% in the past 7 days, despite two seemingly positive announcements.
Not only that, the company's shares have lost over 20% in the past month's trading.
On Tuesday, Fubo announced the launch of its first e-commerce venture, the Fubo Shop, which will sell branded merchandise from FuboTV and Fubo Sportsbook. That day, its shares closed down over 1%.
Yesterday, a partnership with PaySafe was announced, which will see Fubo Sportsbook plug into Paysafe for credit and debit card payments, the Skrill USA digital wallet, and Paysafecard and Paysafecash eCash solutions. The news saw the company claw back some of its recent losses, closing the day 4.67% higher at $23.96.
However, its shares are down 1.25% so far on Friday at $23.66.
Although there has been a recent decline in its shares, investors remain positive, and there is definitely a strong bull case for the stock. With a flurry of recent updates regarding deals and partnerships surrounding its sportsbook product, FuboTV's next earnings release could be one to watch.
Despite the recent positive updates, Fubo's stock looks set to close the week down around 6-7%.
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