What's Going On With FuboTV Shares Today?

FuboTV Inc. FUBO shares are trading slightly higher in the premarket session on Thursday, ending yesterday’s run with a massive dip of over 22% following the recent announcement regarding the collaboration between Fox Corporation FOX, Walt Disney Company DIS, and Warner Bros. Discovery, Inc. WBD.

FuboTV released a separate cautionary statement saying that the deal could dictate market terms, impacting fair market competition.

Every consumer in America should be concerned about the intent behind this joint venture as it may not serve the broader interests of consumers, the company said in a statement. 

FUBO shares plunged on Wednesday as multiple analysts predicted that the agreement could be particularly bad for sports-focused FuboTV. 

Following the announcement, Needham analyst Laura Martin noted that Fubo is “probably the most injured by this new competitor.“

Cantor Fitzgerald analyst Brett Knoblauch also weighed in on the deal, calling it a “negative development” for Fubo.

Fubo currently offers access to most of the content available through the Disney and Fox family of networks, but it doesn’t provide access to Warner Bros networks.

“This new joint venture could effectively replicate much of what FUBO has to offer,” the analyst said in a new note to clients.

FuboTV said it has “continuously pushed the boundaries of live TV streaming” with features like 4K, multi-viewing, and AI products.

“We believe our robust programming and quality product experience cannot be duplicated by what is likely to emerge from this joint venture,” the company said.

Price Action: FUBO shares are trading higher by 1.55% to $1.97 premarket on the last check Thursday.

Photo: courtesy of FuboTv.