Why Rumble Stock Fell This Week
Week to date, shares of Rumble (NASDAQ: RUM) were down 11.9% through Thursday's market close, according to data provided by S&P Global Market Intelligence.
The video streamer's second-quarter earnings report revealed a wider net loss than expected. Improving monetization of users is growing revenue, but investors are still waiting for Rumble to prove it can sustain profitable growth. This is why the stock is down 57% since the company went public last year.
Rumble reported a 468% year-over-year increase in revenue for the second quarter. The platform has been successful in bringing new creators to the platform to attract viewers, especially in markets known to attract young viewers, such as gaming, culture, and lifestyle. This has bolstered the company's monetization efforts with advertising.
Source Fool.com
