FuboTV Inc (NASDAQ:FUBO) shares are trading higher by 3.7% to $2.55 Thursday morning. Shares of streaming stocks are trading higher in sympathy with Netflix Inc, which reported better-than-expected third-quarter sales results raised some subscription prices.
What Happened?
Netflix surpassed expectations, primarily thanks to robust member growth. They added 8.76 million paid subscribers, a substantial increase from the prior quarter, driven by the global expansion of streaming, strong programming, and the introduction of paid sharing.
This growth brought Netflix’s global paid subscriber count to 247.15 million, marking a 10.8% year-over-year increase…Read More
Why This Matters To FuboTV Investors
When a major player like Netflix exceeds expectations and experiences significant growth in paid subscribers, it generally signals a positive sentiment and growth potential within the streaming industry as a whole.
Investors often view such success as an indication that there is continued demand and room for growth in the streaming market.
See Also: Tesla Stock Pulls Back To Late-August Lows
According to data from Benzinga Pro, FuboTV has a 52-week high of $3.94 and a 52-week low of $0.96.
