Why Rumble Stock Jumped Today
Rumble (NASDAQ: RUM) stock jumped in Wednesday's trading. The company's share price closed out the daily session up 6.2% and had been up as much as 14.1% earlier in the day's trading.
Rumble stock gained ground today after founder and CEO Chris Pavlovski made comments suggesting that the company could make investments in Bitcoin. The market-leading cryptocurrency has been on an incredible bull rally, and some Rumble investors are betting that an investment in the crypto coin could help power gains for the company.
Rumble's CEO, Chris Pavlovski, recently posted a message on X that appeared to hint at the company buying Bitcoin. Pavlovski posted a poll asking users whether his company should add Bitcoin to its balance sheet. While the CEO's inquiry may have been somewhat of a leading question, it did generate a large number of respondents who voted in favor of a move by the company to buy Bitcoin. Nothing has been confirmed, but there seems to be a good chance that Rumble will add Bitcoin to its balance sheet in the near future.
Source Fool.com
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