What's Going On With Rumble Stock?
Portfolio Pulse from Erica Kollmann
Rumble Inc. (NASDAQ:RUM) announced the release of its new Xbox app, supported on all Microsoft Corp.'s (NASDAQ:MSFT) Xbox devices starting with 2013 third-generation models. The app enhances video distribution and supports the independent creator economy. Rumble shares gained over 20% last Monday due to political developments and is set to report Q2 results on Aug. 12. Wedbush initiated coverage with a Neutral rating and an $8 price target.
July 26, 2024 | 2:46 pm
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POSITIVE IMPACT
Microsoft Corp.'s Xbox devices will support Rumble's new app, enhancing the platform's video distribution capabilities. This partnership could increase Xbox's value proposition by offering more content options to users.
The support for Rumble's app on Xbox devices could enhance the user experience and content offerings on Xbox, potentially driving more engagement and sales for Microsoft.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Rumble Inc. launched a new Xbox app, enhancing its video distribution capabilities. Shares surged over 20% last Monday due to political developments. The company is set to report Q2 results on Aug. 12, with analysts expecting losses of 15 cents per share and revenue of $19.69 million. Wedbush initiated coverage with a Neutral rating and an $8 price target.
The launch of the Xbox app is a significant product development for Rumble, potentially increasing user engagement and content distribution. The recent 20% share surge due to political news and upcoming Q2 results add to the stock's short-term positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100