Yahoo Finance

Rumble (RUM) stock skyrocketed 83% after securing a $775 million investment from cryptocurrency company Tether (USDT-USD), which will acquire a stake in the company at 7.50 per share.

The investment eases some investor liquidity concerns, and the online video platform may use the funds to strengthen its balance sheet and accelerate growth plans.

Rumble CE0, Chris Pavlovski, is retaining the stake, and Tether will not have the right to designate Rumble board members.

Watch the video above to hear Josh Lipton and Seana Smith discuss Rumble's stock surge more in depth.

To watch more expert insights and analysis on the latest market action, check out more Market Domination here.

This post was written by Josh Lynch