Why Rumble Stock Is Falling Today
Rumble (NASDAQ: RUM) stock is slumping in Wednesday's trading. The company's share price was down 3.9% as of 3 p.m. ET and had been down as much as 5.8% earlier in the day.
Rumble's valuation is moving lower in conjunction with insider selling disclosures submitted to the Securities and Exchange Commission (SEC) yesterday. The stock is also seeing pressures related to the higher-than-anticipated inflation in the latest Consumer Price Index (CPI) report from the Bureau of Labor Statistics.
Rumble submitted a series of filings to the SEC disclosing recent stock sales from company managers and members of its board of directors. On Feb. 7, CEO Christopher Pavlovski sold 354,849 shares of Rumble Class A common stock at a price of $7.50 per share. Following the sale, Pavlovski owned 522,927 shares of the company's class A common stock and also held much larger positions in other share classes.
Source Fool.com
