Why Rumble Inc. Stock Is Lower Today
Portfolio Pulse from Erica Kollmann
Rumble, Inc. (NASDAQ:RUM) reported a sequential decline in global Monthly Active Users (MAUs) from 48 million in Q1 2023 to 44 million in Q2. The company also reported a quarterly loss of 15 cents per share, missing estimates of a loss of 8 cents per share, and Q2 revenue of $24.974 million. Rumble's shares are trading lower on above-average volume, with more than 1.9 million shares traded compared to the 100-day average of 1.211 million shares. The company's shares are down by nearly 12% at $7.26.
August 15, 2023 | 2:59 pm
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NEGATIVE IMPACT
Rumble's Q2 report shows a decline in MAUs and a larger than expected loss per share, leading to a drop in its share price.
Rumble's Q2 report shows a decline in MAUs, which is a key performance indicator for tech companies. This, coupled with a larger than expected loss per share, has negatively impacted investor sentiment, leading to a drop in its share price.
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