Is it a Great Time to Dispose Your fuboTV (FUBO) Shares?

Greenlight Capital, an investment management firm, published its fourth-quarter 2021 investor letter – a copy of which can be downloaded here. An annual return of 11.9% was recorded by the fund for the whole year 2021, compared to the 28.7% of the S&P 500 index for the same period. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Greenlight Capital, in its Q4 2021 investor letter, mentioned fuboTV Inc. (NYSE: FUBO) and discussed its stance on the firm. fuboTV Inc. is a New York, New York-based internet television service provider with a $1.8 billion market capitalization. FUBO delivered a -33.12% return since the beginning of the year, while its 12-month returns are down by -78.86%. The stock closed at $11.28 per share on February 2, 2022.

Here is what Greenlight Capital has to say about fuboTV Inc. in its Q4 2021 investor letter:

“We invested in fuboTV prior to its public listing in 2020. The shares initially did very well and we trimmed a number of times into the strength. Eventually the share price weakened, but fortunately at that time our ownership was small. Though the third quarter result met certain expectations, it missed on others. In our after-the-quarter call with the CEO, we asked why he believed the stock fell. He responded, “We need new shareholders.” We obliged and sold our remaining shares. All told our investment had an excellent compounded return.”

Our calculations show that fuboTV Inc. (NYSE: FUBO) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. FUBO was in 16 hedge fund portfolios at the end of the third quarter of 2021, compared to 18 funds in the previous quarter. fuboTV Inc. (NYSE: FUBO) delivered a -69.35% return in the past 3 months.

In November 2021, we also shared another hedge fund’s views on FUBO in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.