- NASDAQ:RUM gained 1.3% during Monday’s trading session.
- Rumble could be an interesting investment ahead of the midterm elections.
- Things are getting worse for Digital World Acquisition Corp.
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
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD holds above 1.0400 in quiet trading
EUR/USD trades in positive territory above 1.0400 in the American session on Friday. The absence of fundamental drivers and thin trading conditions on the holiday-shortened week make it difficult for the pair to gather directional momentum.
GBP/USD recovers above 1.2550 following earlier decline
GBP/USD regains its traction and trades above 1.2550 after declining toward 1.2500 earlier in the day. Nevertheless, the cautious market mood limits the pair's upside as trading volumes remain low following the Christmas break.
Gold declines below $2,620, erases weekly gains
Gold edges lower in the second half of the day and trades below $2,620, looking to end the week marginally lower. Although the cautious market mood helps XAU/USD hold its ground, growing expectations for a less-dovish Fed policy outlook caps the pair's upside.
Bitcoin misses Santa rally even as on-chain metrics show signs of price recovery
Bitcoin (BTC) price hovers around $97,000 on Friday, erasing most of the gains from earlier this week, as the largest cryptocurrency missed the so-called Santa Claus rally, the increase in prices prior to and immediately following Christmas Day.
2025 outlook: What is next for developed economies and currencies?
As the door closes in 2024, and while the year feels like it has passed in the blink of an eye, a lot has happened. If I had to summarise it all in four words, it would be: ‘a year of surprises’.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.