Why Rumble Stock Popped Today
Shares of streaming video platform Rumble (NASDAQ: RUM) popped on Tuesday on a pair of head-turning headlines. First, the company just launched a highly anticipated new product, and it's looking to acquire TikTok as well. This is why Rumble stock was up about 14% as of noon ET.
Rumble prides itself on being a censorship-free alternative to platforms such as YouTube. However, it desires to be an alternative to public cloud companies as well. This is why the market was excited when Rumble announced yesterday afternoon that its cloud computing service is now open to the public.
Rumble stock already looked like it would have a good day on the news of its cloud product. But CEO Chris Pavlovski took to social media this morning, sharing the company's desire to acquire TikTok from ByteDance. For context, Congress is considering banning the popular app unless ByteDance divests it, giving the opportunity to a buyer such as Rumble.
Source Fool.com
