What happened:

Shares of live sports and TV streaming service fuboTV (NYSE:FUBO) rose 35.5% in the morning session after the company obtained a preliminary injunction against the launch of the Venu Sports joint venture between The Walt Disney Company, FOX Corp. and Warner Bros. Discovery. Fubo argued that the joint venture would have monopolized 60% to 80% of live sports broadcasts, reducing competition and increasing prices for consumers. David Gandler, co-founder and CEO of Fubo, commented, “Today’s ruling is a victory not only for Fubo, but also for consumers. This decision will help ensure consumers have access to a more competitive market with multiple sports streaming options.”

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What does the market tell us:

fuboTV shares are very volatile, having seen 70 price swings of over 5% in the last year. But price swings this large are very rare, even for fuboTV, and that suggests to us that this news has had a significant impact on the market’s perception of the company.

fuboTV has fallen 39.8% year-to-date and is trading at $1.90 per share, 46.8% below its 52-week high of $3.56 set in December 2023. Investors who purchased $1,000 worth of fuboTV stock 5 years ago would have an investment worth $236.84 today.

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