RUM Stock News: Rumble rises despite another negative start for the broader markets

Rumble (RUM) started its third week as a publicly-traded company on the right foot as the stock rose despite a broader market meltdown. On Monday, shares of RUM gained 1.3% and closed the trading session at a price of $12.19. Stocks started right where they left off last week as all three major indices closed lower yet again. The S&P 500 finished the day at its lowest level since 2020. News out of the United Kingdom earlier in the day shocked markets when the British pound slipped to its lowest price ever relative to the dollar. Overall the Dow Jones lost 329 basis points, the S&P 500 dropped by 1%, and the NASDAQ sank by 0.6% during the session.

Rumble stock news

As we head closer to the midterm elections this fall, stocks like Rumble could be an interesting way to invest in the US political race. Rumble is a preferred video platform for conservatives in America, with much of its traffic coming from users on right-wing social media platforms like Parler. With the social media marketing machine kicking into high gear for the near future, we could see Rumble benefit from increased traffic and utilization by conservative politicians. 

Another conservative social media platform is not faring as well right now as things look grim for Digital World Acquisition Corp (DWAC). For those who are unaware, DWAC is the shell company that decided to merge with Trump’s Truth Social media platform. After a delay in the merger until December and several key investors backing out last week, it was revealed that the company has switched its address to a local UPS store in Miami. 

Rumble, formerly CVFI, 1-day chart