Menu
Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Rumble Stock Was Up 83% in December


Share prices of video-streaming platform Rumble (NASDAQ: RUM) were up 83.2% during December, according to data provided by S&P Global Market Intelligence. And when all was said and done, the entirety of the monthly gain happened in a single day.

Through Dec. 20, Rumble stock was only up 1%. But after the market closed that day (a Friday), the company announced that the world's third largest cryptocurrency -- Tether (CRYPTO: USDT) -- had invested $775 million in its business. When the market reopened on Monday morning, Rumble stock skyrocketed.

Rumble stock went on to climb about 130% total for December before pulling back slightly to end the month. By the time 2024 ended, Rumble stock was back where it was on Dec. 23. But this 83% gain stood out from the S&P 500 which dropped 2.5% during the month.

Continue reading


Source Fool.com

Like: 0
RUM
Share

Comments