Shares of fuboTV Inc. (FUBO) surged 5.24% in Tuesday's trading session, building on the momentum following the company's announcement of its new standalone streaming plan, Fubo Sports. The stock's performance reflects growing investor confidence in the company's strategic moves to capture a larger share of the sports streaming market.

The new Fubo Sports plan, set to launch on September 2, is designed specifically for sports fans and offers over 20 national and local channels at a lower price point. Additionally, it includes bundled access to ESPN's new direct-to-consumer Unlimited plan. This targeted approach aims to attract cost-conscious viewers and strengthen fuboTV's position in the competitive streaming landscape.

While fuboTV's stock has shown volatility over the past year, this latest surge suggests that investors are optimistic about the growth potential of the new product. The move is seen as a strategic effort to differentiate fuboTV in the crowded streaming market and potentially drive higher average revenue per user (ARPU) and sustained premium subscription growth. However, investors should remain cautious as the company still faces challenges, including persistent subscriber losses and fierce competition from larger streaming rivals.