A sports betting partnership between Dish Network and DraftKings has hammered the stock of upstart streaming bundle provider FuboTV . Shares in Fubo, which have been on a wild ride in recent months but have risen more than 300% over the past year, were down 19% as the trading day reached the home stretch. The company on Tuesday reported fourth-quarter results that beat Wall Street expectations for revenue as the company's service reached nearly 550,000 subscribers. Losses per share, however, widened to $2.47 in the period from $1.07 a year ago. That wasn't anywhere close to analysts' consensus forecast for a loss of 85 cents. Many investors have headed for the sidelines today given how central sports betting has been to the strategic plan of CEO David Gandler. More than a dozen states have legalized betting in the wake of a landmark 2018 Supreme Court ruling that opened the floodgates. The company has acquired Vigtory and Balto Sports, two deals that will help it launch free-to-play gaming and a full sports book in the second half of 2021. But scale has been a question mark, and the Dish-DraftKings news shows the challenge ahead for Fubo. Related Story DraftKings Shares Climb… Read full this story
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