Why Rumble Stock Is Sinking Today After a Week of Gains

Rumble (NASDAQ: RUM) stock is seeing big sell-offs in Friday's trading. The company's share price was down 8.1% as of 1 p.m. ET. Meanwhile, the S&P 500 index and the Nasdaq Composite index were down 1.7% and 2.2%, respectively.Stocks are seeing relatively thin trading volume today. Along with investors selling shares for tax-harvesting and profit-taking purposes, this is causing a significant pullback across the market. In addition to broader selling pressures, Rumble is losing ground as its recent meme-stock momentum fades.Last Friday, Rumble announced that it had formed a deal to receive a large investment from Tether, the company responsible for the Tether (CRYPTO: USDT) stablecoin cryptocurrency. The streaming video specialist will sell $775 million of new stock to Tether at a price of $7.50 per share.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool