Morning Commentary: Convertible secondary space quiet; fuboTV rally continues

By Abigail W. Adams

Portland, Me., Feb. 1 – The convertible secondary space had a quiet start to the week as equity markets pared their losses from last week’s sell-off.

There was $61 million in reported volume about one hour into the session.

Investors appeared to be on the sidelines, waiting to determine the future direction of the market, following one of the worst weeks for equities since last October.

fuboTV’s newly priced 3.25% convertible notes due 2026 remained in focus with the notes continuing to rip.

The 3.25% convertible notes traded up to 112.375 early in Monday’s session, according to a market source.

There was about $6 million in reported volume.

The notes continued to gain as stock ripped early Monday.

fuboTV stock traded as high as $48.38 early in the session. It was changing hands at $46.40, an increase of 9.64% shortly before 11 a.m. ET.

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