Rumble Stock Doubles in 1 Day. What’s Behind the Surge.
Rumble stock surged Monday after the video streaming platform said it would receive a $775 million investment from cryptocurrency company Tether. The stock jumped 102% to $14.53 Monday afternoon, putting Rumble on track for its highest close since Sept. 19, 2022, and marking the largest same-day percentage increase on record, according to Dow Jones Market Data. The company announced that Tether had agreed to purchase about 103.3 million shares at $7.50 a share.