Streaming Service FuboTV's Pre-Super Bowl Price Action

Melanie Schaffer

Shares of Fubotv Inc. (NYSE: FUBO) have seen three strong sessions, and at one point Monday, shares of the new streaming service were up as much as 18%.

The stock was giving back some of the gains at last check Tuesday, trading down 4.33% at $39.09.

The 2020 Super Bowl brought in just under 100 million viewers in 2020, and 2021 is likely to set a viewership record as the pandemic has many sports fans stuck at home instead of sharing screens at parties, restaurants and bars.

Instead of deciding where to watch the game this year, set for Feb. 7, fans will be deciding how to watch.

Many may feel that FuboTV is the most dedicated streaming service for watching the game. as four out of its eight live channels are dedicated specifically to sports.

Shares in FuboTV cooled off in recent weeks following a parabolic run to an all-time high of $62.29. After weeks of consolidation, on Jan. 21, Barrington upgraded FuboTV to Outperform with a $40 price target, which seemed to help shares of the company buck the downtrend.

Although FuboTV is not expected to report earnings until the beginning of March, investors will be interested to see not only how many new customers the streaming service acquired in the first quarter of 2021, but also how many tuned in to watched the Super Bowl.

Photo courtesy of FuboTV.

See more from Benzinga

© 2021 Benzinga does not provide investment advice. All rights reserved.