Tether Lifts Holdings in Rumble (RUM)
CoinDesk
Rumble shares surged 13% after major shareholder Tether increased its stake by approximately 1.06 million shares.Summary
Rumble (RUM), a video-sharing platform expanding into cloud computing, saw its stock jump 13% on Monday following a significant stake increase by its major shareholder, Tether. SEC filings revealed that Tether Investments purchased about 1.06 million shares between November 19 and 21 for approximately $5.7 million, bringing its total holdings to over 104 million shares. The stock price reached $6.40 during the session. This rally occurred concurrently with a broader rebound among data center and high-performance computing stocks. Furthermore, Rumble is in the process of acquiring Northern Data, a cloud computing firm also backed by Tether, a merger that would integrate 22,000 Nvidia chips into Rumble's cloud division.
(Source：CoinDesk)