Stock News, US News

Can you believe that FUBO is down to a market cap of only $3.1 Billion?

While FUBO is not profitable yet, they now have over one million subscribers and purchased a $190 million French streaming service to expand into Europe. Their strategy to profitability lies in the rapid growth of legalized sports betting in the USA.

Meanwhile, NKLA, an absolute scam with five years of broken promises, no actual product, no actual product on the horizon. A total disaster in every way. The market cap is $4.8 Billion.

DKNG, which is strictly sports betting and online casino (in a tiny amount of states where it is legal), is hemorrhaging all kinds of money. They performed far worse than they anticipated last quarter, have an extremely long road to profitability (if ever achieved), and a substantial chance the company will ultimately fail. The market cap is $14.7 Billion.

MarketWatch reports that FUBO had a short interest of 16% of the float on October 29th. This is right before FUBO stock went from $29.5 to $35 and then crashed on earnings. My guess is that short selling exploded as the stock ran from up to 35, and then shorts have just continued to pile on for the past two weeks, fueling a fall from 35 to 21.50.

Each day FUBO has seemed like low-hanging fruit only to go even lower the next day. At some point soon, I expect to see a dramatic rip to the upside, even if it is short-lived. Given the general market, the $3.1 Billion market cap does seem very low to me compared to the current valuations of stocks in general. Even if you think $3.1 Billion is still too high, it looks very low compared to the rest of the market in general.

submitted by /u/Viva-La-Pepe
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