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In a recent transaction, Robert Arsov, a director at Rumble Inc. (NASDAQ:RUM), sold a significant portion of his holdings. According to a filing with the Securities and Exchange Commission, Arsov sold 12,350,025 shares of Class A Common Stock at a price of $7.50 per share, totaling approximately $92.6 million. This sale was part of Rumble’s self-tender offer, which concluded on February 7, 2025. The stock, currently trading at $11.17, has shown significant volatility with a 95% surge over the past six months, according to InvestingPro data.
Additionally, Arsov acquired 5,012,242 shares through the exercise of stock options at a nominal price of $0.03 per share. Following these transactions, Arsov holds 5,149,566 shares directly. These moves were approved by Rumble’s Board of Directors, aligning with exemptions under Rule 16b-3 of the Securities Exchange Act of 1934. With a market capitalization of $2.6 billion and an overall "FAIR" financial health rating from InvestingPro, the company currently appears slightly undervalued based on Fair Value analysis.
In other recent news, Rumble Inc. has been making significant strides in its operations. The company recently announced the inauguration of an official White House channel, a development that could potentially enhance its visibility and user base. Concurrently, Rumble disclosed the departure of its General Counsel and Corporate Secretary, Michael Ellis, who is set to take up a new role in government service. In the wake of this departure, Rumble welcomed Katie Biber as a new independent director to its Board.
The company also reported a new all-time high for average concurrent creator livestreams, surpassing its previous record. In addition, Rumble received a substantial $775 million investment from Tether, a leading company in the digital assets industry. This investment could bolster Rumble’s position in the rapidly growing online video space and possibly pave the way for expansion or technological enhancements. These are recent developments that could have a significant impact on Rumble’s trajectory in the tech industry.
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