Last week, FuboTV revealed the terms for its IPO in an SEC filing. The company plans to raise up to $165 million. The stock will likely be listed on the NYSE under the ticker symbol "FUBO." How can investors buy into the FuboTV stock IPO?
When is the FuboTV stock IPO date?
FuboTV’s IPO date hasn't been set yet. The company is offering about 15 million shares in the IPO priced at $9 – $11 per share. If FuboTV prices at the midpoint of that range, it would give the company a valuation of $1.5 billion. The listed underwriters for the IPO are Evercore ISI, Needham & Company, BMO Capital Markets, Oppenheimer & Co., Wedbush Securities, and Roth Capital Partners. FuboTV has granted underwriters a 30-day option to buy an additional 2.25 million shares at the IPO price.
Where to buy the FuboTV stock IPO?
To buy FuboTV stock when it lands on the NYSE, you will need to have a brokerage account. You can create a brokerage account with online discount brokers like Robinhood, Charles Schwab, SoFi Invest, and Webull. After you have funded your stock trading account, you can place a buy order.
How to buy FuboTV stock IPO on Robinhood
To buy FuboTV stock on Robinhood, you will need to have a Robinhood trading account. After you have opened and transferred the required funds to your stock trading account, you can buy FuboTV stock on Robinhood.
Should you buy the FuboTV stock IPO?
FuboTV was co-founded in 2015 by David Gandler, Alberto Horihuela, and Sung Ho Choi. FuboTV offers an online esports and entertainment streaming service. The company mainly focuses on channels that distribute live sports like the NFL, NBA, NHL, and MLB.
Investors could buy FuboTV IPO stock based on the strong growth outlook. Previously, FuboTV said that it expects sales for the third quarter of 2020 to be between 50 million and $54 million, which is nearly 38 percent growth year-over-year. Also, the company will likely have nearly 370,000 to 380,000 paid customers, which is about 28 percent growth year-over-year.
In a press release, FuboTV CEO David Gandler said, “The current quarter has been very strong for fuboTV with double digit revenue and subscription growth year-over-year as well as improvement in retention - all achieved during the ongoing pandemic.”
While the global market for sports streaming was $11.3 billion in 2018, it will likely reach about $34 billion in value by 2027, according to a 2020 research report by Absolute Markets Insights. FuboTV faces competition from AT&T, Comcast, Altice, and YouTube TV.