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What's Going On With Rumble Stock Monday?
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What's Going On With Rumble Stock Monday?
Aug 12, 2024 11:50 AM

Rumble Inc ( RUM ) shares are in the spotlight Monday ahead of earnings. Here’s what you need to know before the report.

What To Know: Rumble is due to report second-quarter financial results after the market close on Monday. The video-sharing platform company is expected to report a loss of 15 cents per share and revenue of $19.69 million, according to estimates from Benzinga Pro.

Rumble has missed revenue estimates in three consecutive quarters heading into Monday’s print. Last quarter, Rumble missed estimates on the top and bottom lines, reporting revenue of $17.73 million and a quarterly loss of 21 cents per share.

Rumble said it had 50 million monthly active users in the first quarter, marking the ninth consecutive quarter with average global monthly active users above 40 million. Average minutes watched per month were 8.6 billion in the quarter.

Rumble ended the first quarter with $183.8 million in cash, cash equivalents and marketable securities.

Rumble chairman and CEO Chris Pavlovski will be interviewed by Matt Kohrs shortly after the company’s earnings call concludes. The interview will focus on Rumble’s second-quarter accomplishments and future initiatives.

Pavlovski posted on X late last week highlighting strong demand for Rumble Premium. The Rumble CEO indicated that the company plans to expand its premium offering “quite a bit” in the coming months. Investors and analysts will be watching for any updates on the early success of the company’s premium offering.

Wedbush analyst Scott Devitt initiated coverage on Rumble with a Neutral rating and announced a price target of $8 in the weeks leading up to earnings.

See Also: Markets Experience Best And Worst Days Since 2022: What’s Next In Wall Street’s Rollercoaster Ride?

How To Buy RUM Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Rumble’s case, it is in the Communication Services sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

RUM Price Action: Rumble shares were down 3.78% at $5.62 at the time of publication, according to Benzinga Pro.

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