Shares of FuboTV jumped 7.3% to $10.82 on June 1, rebounding sharply from a week of heavy selling as traders who had bet against the stock rushed to buy back shares and close their positions — a classic short-covering bounce. The move highlights just how fragile sentiment remains for a company caught between genuine operational progress and a cratered stock price.
• Nearly a Quarter of Tradable Shares Were Bet Against the Stock
Short interest recently fell from 7.14 million to 6.62 million shares, but that still represents 22.84% of the company's publicly available shares sold short.
At recent average volumes of 1.55 million shares per day, it would take more than four days for short sellers to fully exit their positions — meaning any upward move gets amplified as shorts scramble to cover. With a beta of 2.51, FuboTV's price swings are already more than double the broader market's , turning every news cycle into a trading event.
• The Numbers Are Improving, But the Market Doesn't Care — Yet
FuboTV posted $1.57 billion in Q2 fiscal 2026 North America revenue with 5.7 million subscribers, narrowing its net loss to just $6.2 million from a pro forma loss of $40.9 million a year earlier.
Management reaffirmed guidance for $80–$100 million in adjusted EBITDA this fiscal year and at least $300 million by fiscal 2028. Yet shares have still declined more than 63% year-to-date , suggesting investors want proof — not promises.
• Subscriber Losses Undercut the Revenue Story
North America subscribers fell to 5.7 million from 5.9 million a year ago, showing modest pressure even as revenue grew.
Management has acknowledged it is prioritizing profits over subscriber growth, with CEO David Gandler saying the company may see flat or declining subscriber counts for extended periods while focusing on efficiency. That trade-off only works if advertising revenue and pricing power fill the gap — an unproven bet.
• Disney's Shadow Looms Over Every Fubo Decision
Disney now owns 70% of FuboTV through the Hulu + Live TV combination, creating a combined platform with roughly $6.2 billion in trailing revenue.
The company is deepening cross-selling integrations with Disney and ESPN to drive future growth , but a 1-for-12 reverse stock split in March hurt momentum, and market observers note such splits often attract more selling regardless of fundamentals.
The bottom line: today's bounce was mechanical, not fundamental. Until FuboTV proves it can convert Disney's scale into actual subscriber stabilization and sustained cash flow, short sellers will keep circling.