Rumble shares are trading higher following US House passage of a bill that would require TikTok to divest from ByteDance or face a ban. CEO Chris Pavlovski recently said the company is ready to join a consortium with other parties seeking to acquire and operate TikTok in the US in the event that ByteDance divests its ownership.
Portfolio Pulse from Benzinga Newsdesk
Rumble shares are trading higher after the US House passed a bill that could lead to a TikTok ban unless it divests from ByteDance. Rumble's CEO, Chris Pavlovski, expressed readiness to join a consortium to acquire and operate TikTok in the US if ByteDance divests.
March 13, 2024 | 2:48 pm
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Rumble shares are trading higher following the US House bill passage that threatens TikTok with a ban, indicating potential growth opportunities for Rumble.
The positive movement in Rumble's stock price is directly linked to the US House bill passage, which could force TikTok to divest from ByteDance, opening an acquisition opportunity for Rumble. This news is likely to be viewed positively by investors as it presents a significant growth opportunity for Rumble, hence the increase in stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100