Sports Betting With Your Fubo Remote
FuboTV announces acquisition of Vigtory
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$FUBO 🎰 ($36.47, +34.1%)
If you’ve ever been to the sportsbook at a casino, you’ll see a bunch of sports bettors sitting in front of about 20 television screens, yelling and screaming as their team gets closer (or further) away from the winning bet. This the vision for FuboTV, except that they want to do this in your living room as you stream live sports through their TV service. FuboTV just announced a partnership with Vigtory to help power all sports betting initiatives within the company. With sports betting projected to be a $150 billion industry by 2024, we will start to see the industry expand beyond your traditional casino players and into mobile and tech integrations such as DraftKings, Penn National Gaming (36% owner of Barstool Sports) and now FuboTV. Beyond adding an additional revenue stream, FuboTV plans to offer an experience where any user can download the app to play for free. This approach effectively makes FuboTV a freemium product that expands user acquisition at the top of the funnel, leading to more premium subscribers while adding an additional revenue stream in sports betting. With this news, $FUBO is popped +34% ending the day at $36.47.
Stock Techie’s take on $FUBO: After the parabolic runup in late December, the shorts piled on to bring $FUBO to a low of $23 in early January. We got a decent entry point, but looking at $FUBO as a longer-term play, especially with the outlook of Democratic control that will help to legalize online gambling.
$XPEV ⚡️ ($53.33, +22.5%)
Xpeng announced it had secured a $2 billion credit line to bolster its balance sheet for manufacturing and sales. The credit line was provided by the Chinese government, mirroring the government’s involvement in providing similar financing for Nio back in July of 2020. Following the credit line announcement, Bank of America upgraded the price target of $XPEV to $54, citing increased sales and Xpeng’s differentiation in autonomous driving technologies. $XPEV closed the day up +22.5%.
Stock Techie’s take on $XPEV: $XPEV is finally breaking out of its channel after the November dropoff from all-time highs. The portfolio will maintain the $XPEV position and look to add on dips once this new support level is confirmed.
TICKER ACTION CHANGE IN POSITION
$GRWG BUY +9.1%
$FVRR SELL -11.1%Portfolio Transactions
$GRWG 🌿 ($50.31, -2.4%)
Increased position by +9.1% based on an intraday dip. Standard profit-taking from yesterday’s massive +17% gain, but bulls were able to push it back to close above $50. Technicals are setting up for a potential 3-bar play if the stock can rise above $53 and start the short squeeze above all-time highs.
$FVRR 👨💻 ($253.86, +9.3%)
Fiverr International got a new price target increase to $270 from Citibank, making it the highest price target by Wall Street analysts. $FVRR popped near +12% before settling back down to the $253 close. Small selloff to profit from the news.
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