Streetbeat News

RUM

Rumble Inc.

https://www.rumble.com

Industry

Software - Application

Rumble Inc. operates video sharing platforms. The company operates rumble.com, a platform that enables video creators to host, livestream, manage, distribute, and create OTT feeds, as well as monetize their content. It also operates locals.com, a subscription-based video sharing platform. The company was founded in 2013 and is based in Longboat Key, Florida.

Open

7.74

Mkt cap

4.9B

Volume

2.1M

High

8.04

P/E Ratio

-12.35

52-wk high

17.40

Low

7.72

Div yield

N/A

52-wk low

4.92

Elon Musk's social media company, X, has filed an antitrust lawsuit leading to the suspension of the Global Alliance for Responsible Media (GARM). The World Federation of Advertisers (WFA) announced the suspension and plans to challenge the allegations in court. Rumble Inc. has also joined X in filing similar lawsuits.

Portfolio Pulse from Ananya Gairola

August 09, 2024 | 5:26 am

Rumble Inc. (NASDAQ:RUM) and Elon Musk's X have filed antitrust lawsuits against major advertising agencies, alleging a conspiracy to withhold ad revenue. The lawsuit, filed in the U.S. District Court for the Northern District of Texas, names the World Federation of Advertisers, WPP, and GroupM Worldwide as defendants. Musk has encouraged other companies facing similar boycotts to file lawsuits, suggesting potential criminal liability under the RICO Act. The lawsuit follows a significant drop in advertising revenue for X since Musk's acquisition.

Portfolio Pulse from Ananya Gairola

August 07, 2024 | 4:43 am

Rumble has joined forces with Social Media Platform X to file antitrust lawsuits against WFA, WPP, and GroupM. The lawsuits allege a conspiracy to withhold advertising revenue and claim that GARM standards perpetuate an advertiser boycott. The U.S. House Judiciary Committee is investigating potential antitrust violations.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 3:32 pm

The U.S. Justice Department has filed a lawsuit against ByteDance, the parent company of TikTok, over alleged violations of children's privacy laws. This legal action could have significant implications for companies in the social media and technology sectors.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 5:10 pm

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.

Portfolio Pulse from Erica Kollmann

July 26, 2024 | 2:46 pm

Rumble has launched an app for Xbox, expanding its availability for streaming live and on-demand content. Users can now access Rumble on Xbox, Apple TV, Roku, Amazon Fire TV, LG Smart TVs, and Samsung TV apps.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2024 | 1:02 pm

Shares of companies within the broader communication services sector are trading lower possibly in sympathy with overall market weakness.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 7:08 pm

Sen. J.D. Vance, selected as Donald Trump's running mate for the 2024 presidential election, is under scrutiny for his venture capital background. Vance's time at Mithril Capital and Revolution is questioned by former coworkers, though he later founded Narya Capital, which invested in Rumble Inc (NASDAQ:RUM).

Portfolio Pulse from Chris Katje

July 23, 2024 | 7:03 pm

Senator J.D. Vance, Donald Trump's vice-presidential pick for the 2024 election, has called for breaking up large tech companies like Alphabet Inc. (Google) and Meta Platforms (Facebook). Vance's stance could lead to more discussions on antitrust legislation if Trump wins. Vance is also an investor in Rumble Inc., which has filed lawsuits against Google, and holds significant investments in the Invesco QQQ Trust.

Portfolio Pulse from Chris Katje

July 17, 2024 | 8:38 pm

Wedbush analyst Scott Devitt has initiated coverage on Rumble (NASDAQ:RUM) with a Neutral rating and set a price target of $8.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 4:24 pm

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