Why Rumble Stock Is Up Big This Week
Rumble (NASDAQ: RUM) stock closed out this shortened week's trading with big gains. The company's share price closed out the stretch up 10.8%, according to data from S&P Global Market Intelligence.
The streaming-video specialist's stock climbed higher in conjunction with the explosive gains recorded by Trump Media Technology Group (NASDAQ: DJT) after the company completed its merger with a special-purpose acquisition company (SPAC). While Rumble stock subsequently wound up pulling back following the release of its fourth-quarter report, it still closed ended the week with big gains.
Trump Media Technology Group, a social media platform that former President Trump owns a majority stake in, completed its SPAC merger with Digital World Acquisition and began trading on the Nasdaq stock exchange on Tuesday. The stock rocketed higher out of the gate and went on to climb even higher, ending the week's trading up 67.7%.
Source Fool.com
