U.S. stocks lower as investors rotate out of tech ahead of Jackson Hole
LONGBOAT KEY, Fla. – Rumble Inc. (NASDAQ: RUM), a $2.73 billion market cap video platform and cloud services provider, has announced the inauguration of an official White House channel by U.S. President Donald Trump. The new channel is part of the company’s expanding portfolio of content providers. The company’s stock has shown remarkable momentum, with a 118% price return over the past six months.
The development comes as Rumble continues to position itself as a growing force in the video platform space, aiming to provide an independent infrastructure that supports a free and open internet. The White House’s presence on Rumble signals a notable partnership for the company, potentially increasing its visibility and user base. According to InvestingPro data, the company maintains a strong financial position with a current ratio of 3.94, indicating robust liquidity to support its growth initiatives.
Rumble’s mission, as stated, is to restore the internet to its original state of freedom and openness. The platform has been gaining traction among users who are seeking alternatives to mainstream video-sharing services.
The announcement did not detail the specific content that will be featured on the White House channel, but the establishment of the channel on Rumble is indicative of the platform’s increasing influence and the diverse avenues political figures are exploring to reach audiences.
The news of the White House’s move to Rumble could be of interest to investors who track the performance of media and technology stocks, as well as those monitoring the evolving landscape of digital communication channels utilized by government entities. While the company currently trades near its InvestingPro Fair Value, investors seeking deeper insights can access comprehensive analysis and 12 additional ProTips through InvestingPro, including detailed metrics on the company’s growth trajectory and financial health.
This announcement is based on a press release statement from Rumble, Inc. and does not include any promotional content or endorsements. The company’s stock is publicly traded on the NASDAQ under the ticker symbol RUM.
In other recent news, Rumble Inc. has been undergoing significant changes. The company recently announced the departure of General Counsel and Corporate Secretary, Michael Ellis. Ellis’s resignation is not due to disagreements with the company but a personal career move, as he has chosen to return to public service.
Rumble Inc. also welcomed Katie Biber as a new independent director to its board. This appointment follows the resignation of Ethan Fallang, who stepped down to pursue a governmental position. Biber will serve on the Audit Committee and the Nominating and Corporate Governance Committee.
The company achieved a new record for average concurrent creator livestreams, surpassing the previous one set on the night of the recent election. This growth was highlighted on platform X.
Rumble Inc. also announced a significant investment from Tether, a leading company in the digital assets industry. The $775 million investment is expected to bolster Rumble’s position in the market.
In the meantime, analysts from Wedbush maintained a neutral stance on Rumble’s stock, despite the significant capital infusion from Tether. The company intends to allocate $250 million of the incoming funds to bolster growth initiatives, with the remaining amount financing a self-tender offer for up to 70 million shares. These developments indicate a period of strategic growth and restructuring for Rumble Inc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.