Dish-DraftKings Sports Betting Pact Blitzes FuboTV Stock
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deadline.comA sports betting partnership between Dish Network and DraftKings has hammered the stock of upstart streaming bundle provider FuboTV.Shares in Fubo, which have been on a wild ride in recent months but have risen more than 300% over the past year, were down 19% as the trading day reached the home stretch.
The company on Tuesday reported fourth-quarter results that beat Wall Street expectations for revenue as the company’s service reached nearly 550,000 subscribers.
Losses per share, however, widened to $2.47 in the period from $1.07 a year ago. That wasn’t anywhere close to analysts’ consensus forecast for a loss of 85 cents.Many investors have headed for the sidelines today given how central sports betting has been to the strategic plan of
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