Rumble Inc. (RUM), one of the world’s most famous video sharing and streaming platforms, lost 12.27 per cent on Wednesday, with investors’ selling pressure. The share value closed the day at $ 11.65, falling for the second consecutive time. The company’s annual loss of value has already reached 10.66 per cent.
What is the reason for the decline on the RUM front?
According to experts, this decline in Rumble (RUM) shares is due to profit realisation as well as general uncertainty in the industry. In particular, negative comments about developments in quantum computing have caused a general downward trend in technology and energy stocks.
Rumble had recently received a strategic investment of $ 775 million from Tether. Of this investment, $ 250 million will be used to support growth projects, while the remaining part will be used in a buyback offer for 70 million Class A shares. However, despite this big deal, investors are cautious due to short-term return concerns.
RUM fans and shareholders are worried…
Rumble (RUM Inc.) ranked 6th among the 10 worst performing stocks in the technology and energy sector on Wednesday. Analysts point to the company’s long-term potential, but note that investors are currently turning to areas that promise faster growth, such as artificial intelligence. This puts pressure on RUM as well as other stocks in the sector.
Do you think this development on the RUM front is temporary? Do not forget to share your opinions in the comments.
{{user}} {{datetime}}
{{text}}