Why Is FuboTV (FUBO) Stock Up 55% Today?

  • FuboTV (FUBO) stock is gaining after announcing a new executive.
  • The company is also preparing for its first investor day.
  • All of this news has shares of FUBO stock seeing heavy trading on Tuesday.
FuboTV (FUBO stock) logo on iPhone display

Source: Burdun Iliya / Shutterstock.com

FuboTV (NYSE:FUBO) stock is rising higher on Tuesday after the company announced an update to its leadership team.

According to a press release, Lynette Kaylor is taking over as the company’s Senior Vice President for advertising sales. This change will see Kaylor reporting directly to cofounder and CEO David Gandler.

Kaylor said the following about moving into the new FuboTV role:

“I believe in Fubo’s mission to create an interactive entertainment experience that positions the company to appeal to sports fans and advertisers alike. As an avid sports fan myself, I’m beaming at the opportunity to join the leading sports streamer during a time of pivotal growth and take FuboTV’s advertising sales to the next level.”

Investors should also note that FuboTV is preparing to hold its first investor meeting later today. The event is set to last from 2:30 p.m. to 5:30 p.m. Eastern and will include an in-person meeting in New York City as well as virtual attendance.

The upcoming investor meeting is putting an extra spotlight on FUBO stock today. With that comes heavy trading; some 75 million shares have changed hands as of this writing. For comparison, the company’s daily average trading volume is closer to 12 million shares.

FUBO stock is up 55% as of Tuesday afternoon but still down 60% since the start of the year.

Investors looking for more of the latest stock market news are in luck!

We’ve got all of the hottest stock market coverage that traders need to know about for Tuesday! Among that is what has shares of Ginkgo Bioworks (NYSE:DNA) stock, IonQ (NASDAQ:IONQ) stock and AST SpaceMobile (NASDAQ:ASTS) stock today. You can get up to speed on all of that news at the links below!

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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