Why is FreeCast Stock (CAST) Up 42% in Pre-Market Trading Today?

Shares in media infrastructure company FreeCast (CAST) soared in pre-market trading today after sealing a deal to stream DirecTV services to a range of apartment dwellers from students to the elderly.

What is the Deal?

• FreeCast and DirecTV Multifamily announced a national distribution agreement that authorizes FreeCast to market and sell DIRECTV streaming services in Multifamily housing.
• FreeCast is now a licensed distributor of DIRECTV services across apartments, condominiums, HOAs, student housing, and senior living communities.

DirecTV offers a range of channels from sports to news to traditional broadcasters such as ABC and NBC. FreeCast said Multifamily residents will also have the option to upgrade to premium services through DIRECTV, such as HBO Max, Paramount+, SHOWTIME, STARZ, and MGM+.

FreeCast said the deal would expand its presence in the multifamily sector and its service portfolio.

All in One Place Entertainment

FreeCast CEO William Mobley discussed the opportunities for the company with this new deal: “Our business model has always been about giving people what they want, giving them options. Being able to make DIRECTV available in the multifamily space is a significant opportunity for us to further meet the needs of property owners and residents with a trusted, premium television offering, while strengthening our ‘all-in-one place’ streaming entertainment offering,” said FreeCast chief executive William Mobley. “This also enables DIRECTV to reach new customers who want to combine a traditional pay TV experience with our expansive free streaming ecosystem.”

FreeCast completed its direct listing onto the Nasdaq stock exchange in March.

Is CAST a Good Stock to Buy Now?

Given the lack of analyst coverage of CAST stock, let’s look at its recent stock price performance. See below.