Why Rumble Stock Was Crumbling This Week
So far this week, there has been quite a rumble under Rumble (NASDAQ: RUM) stock. Despite securing a contract to provide its video streaming services to a very high-profile client, investors largely traded out of the stock due to insider selling. According to data compiled by S&P Global Market Intelligence, the shares were down in excess of 11% week to date as of Friday morning.
The five-day trading week seemed to start off well for Rumble, as the company announced that President Donald Trump established an official White House channel that will broadcast on its streaming platform.
However, investors might have already priced in such a move, considering that much of Rumble's content leans to the right politically. Trump's signing on to Rumble services was hardly a surprise, given that.
Source Fool.com
