Why Rumble Stock Is Plummeting This Week
Rumble (NASDAQ: RUM) stock is sinking in this week's trading. The company's share price was down 12.5% from last week's market close of as of 1 p.m. ET Thursday, according to data from S&P Global Market Intelligence.
Rumble stock is losing ground this week following recent interest rate news from the Federal Reserve. While the Fed announced the 25-basis-point interest rate cut that investors anticipated yesterday, Chairman Jerome Powell delivered commentary that worried investors.
At its meeting yesterday, the Federal Reserve delivered its third interest rate cut since September. But Powell indicated that the central banking authority would take a more cautious approach to cutting rates next year.
Source Fool.com
