Why Rumble Stock Is Surging Today
Rumble (NASDAQ: RUM) stock is gaining in Friday's trading. The company's share price was up 5.1% as of 3 p.m. ET despite a 0.4% drop for the S 500 index and a 0.7% decline for the Nasdaq Composite index. The stock had been up as much as 9.3% earlier in the session.
Rumble is climbing today after President Donald Trump signed an executive order to explore the creation of a U.S. cryptocurrency reserve program. While Rumble's core business is still its streaming video platform, the company has recently been making a push into the crypto space.
At the White House yesterday, Trump issued an executive order outlining standards and priorities for the U.S. crypto industry. The order includes new protections for cryptocurrency miners and developers and for crypto owners who keep their tokens on personal digital wallets rather than centralized platforms.
Source Fool.com
