Rumble Stock Is Trending Tuesday: What Traders Are Saying On Stocktwits
Portfolio Pulse from Erica Kollmann
Rumble, Inc. (NASDAQ:RUM) has expressed interest in becoming a cloud technology partner for TikTok, as revealed in an offer letter posted by CEO Chris Pavlovski. The letter highlights Rumble's recent launch of the Rumble Cloud, emphasizing its secure, US-based infrastructure. The news has sparked discussions among traders on Stocktwits, with many seeing significant growth potential for Rumble if it becomes TikTok's partner, especially in light of potential bipartisan support to ban TikTok unless it meets certain requirements. Rumble's stock was trending on Stocktwits, with a notable increase in trading volume and a 17.6% rise in share price to $7.86.
March 12, 2024 | 6:01 pm
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POSITIVE IMPACT
Rumble, Inc. has shown interest in partnering with TikTok, leveraging its new Rumble Cloud service. This move has generated significant discussion and optimism among traders, contributing to a notable increase in its stock price and trading volume.
The news of Rumble's interest in partnering with TikTok and the launch of Rumble Cloud has been positively received by the market, as evidenced by the surge in stock price and trading volume. The potential for Rumble to capitalize on bipartisan moves to regulate or ban TikTok in the US adds to the optimism around RUM's growth prospects.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100