Why Rumble Stock Is Falling Today
Rumble (NASDAQ: RUM) stock is falling in Monday's trading. The streaming-video company's share price was down 9.3% as of 1:30 p.m. ET. Meanwhile, the S 500 index was down 0.7%, and the Nasdaq Composite index was down 0.8%.
The broader market is facing pressures today as investors take year-end profits and sell stocks for tax purposes. In addition to this bearish catalyst, Rumble stock is also facing a reversal of the positive meme-stock momentum it had been seeing.
Today is the second-to-last trading day in 2024, and investors are taking profits on this year's winners and selling losers for tax-harvesting purposes. Along with relatively thin trading volume, this is prompting a pullback for the broader market.
Source Fool.com
