FuboTV Inc ( FUBO ) shares are dropping on Wednesday. The stock has continued to drift downward following its first‑quarter 2026 earnings release.

FuboTV ( FUBO ) shares are approaching critical lows. Why did FUBO hit a new low?

What Happened After Earnings

Earlier this month, FuboTV ( FUBO ) reported first-quarter revenue of $1.55 billion, up 40% year-over-year and well above analyst expectations of $1.10 billion. But despite the strong top‑line beat, the company posted a 2 cent loss per share, missing Wall Street's forecast for a 1 cent loss.

Additionally, Fubo said it would stop providing forward guidance and announced plans for a reverse stock split with a ratio between 1‑for‑8 and 1‑for‑12. Those disclosures triggered a sharp sell-off in the days that followed.

Subscriber Trends Add More Pressure

FuboTV ( FUBO ) ended the quarter with 6.2 million North American subscribers when combined with Disney's Hulu + Live TV business, down slightly from 6.3 million a year earlier.

The stock attempted a small rebound on Tuesday, but the bounce didn't hold. Selling pressure has remained the dominant trend for Fubo since earnings, and Wednesday's move lower continues that pattern.

What Fubo’s Technicals Show

FuboTV ( FUBO ) is currently positioned in a challenging technical setup, trading significantly below its key moving averages. With the 20-day SMA at $2.20 and the 50-day SMA at $2.49, FuboTV’s stock is struggling, sitting approximately 36.4% below the 20-day SMA and 43.9% below the 50-day SMA.

The RSI is at 18.21, indicating that FuboTV’s stock is oversold, suggesting that the stock may be due for a bounce, but traders should be cautious as oversold conditions can persist for a while. Also, MACD is below its signal line, indicating bearish pressure on the stock.

FUBO lacks clear support and resistance levels at this time, which complicates the trading landscape. Without these levels, traders may find it difficult to gauge potential reversal points or trend continuations.

In December, a death cross occurred when the 50-day SMA crossed below the 200-day SMA, signaling a shift to a bearish trend. This crossover is a critical indicator for traders, as it often precedes further declines.

Looking at the 12-month performance, Fubo’s stock has dropped 62.50%, reflecting a significant longer-term downtrend. This performance underscores the challenges the stock has faced and suggests that traders should remain cautious.

FUBO Price Action: FuboTV ( FUBO ) shares were down 8.55% at $1.39 at the time of publication on Wednesday. The stock is trading at a new 52-week low, according to Benzinga Pro.

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