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Rumble ( (RUM) ) has provided an update.
On February 7, 2025, Rumble announced the closure of a strategic investment of $775 million from Tether, a prominent company in the digital assets industry. This transaction involves Tether purchasing 103,333,333 shares of Rumble Class A Common Stock, with Rumble utilizing $250 million of these funds to support growth initiatives. The company also completed a tender offer to repurchase 70 million shares of its own stock, amounting to $525 million in total. This investment is expected to enhance Rumble’s market position and support its expansion into cryptocurrency payments, although it carries risks associated with regulatory challenges and market volatility.
More about Rumble
Rumble is a high-growth video-sharing platform and cloud services provider focused on creating an independent infrastructure to restore the internet’s freedom and openness. Rumble’s mission is aligned with providing users and content creators with a free and open internet experience.
YTD Price Performance: 5.48%
Average Trading Volume: 7,077,363
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $7.26B
See more data about RUM stock on TipRanks’ Stock Analysis page.
