RUM Stock News: Rumble surges after Elon Musk weighs in on censorship

RUM gained 11.4% during Wednesday’s trading session.
Elon Musk sides with Russell Brand on YouTube censorship of his videos.
Signing Musk to a Rumble partnership would be a massive win for the company.

Stocks Reporter FXStreet

Rumble (RUM) reversed course alongside the broader markets on Wednesday as the conservative video streaming platform received a nice boost from a well-known figure. Shares of RUM jumped higher by 11.4% and closed the trading session at a price of $12.99. Despite a surprising tumble from Apple (AAPL), all three major indices rose as the S&P 500 snapped its recent slide. One day after seeing a new bear market low, the S&P 500 added just under 2%, the Dow Jones gained 548 basis points, and the NASDAQ rose higher by 2.05% during the session.

Rumble stock news

In a surprising social media thread, Tesla (TSLA) CEO Elon Musk sided with controversial comedian Russell Brand on the censorship of his videos on YouTube. Musk has widely been a supporter of free speech, which initially drove his desire to acquire the social media platform Twitter (TWTR). Brand posted a video questioning why YouTube had censored his content but not the misinformation spread by major corporations. To this, Musk replied "good point". Musk was then asked by radio host Dan Bongino if he would consider teaming up with Rumble himself. Musk replied that he was "a little preoccupied right now".

If Rumble were to ever add Musk to its lineup, it would be a massive win for both the platform and its shareholders. Musk admitted earlier this year that he is considering voting Republican in the next election, although he has also stated that it does not make him a conservative. It is something to monitor for investors as Rumble’s stock would likely see another pop if Musk remains associated with the company.

RUM stock performance 9/29/22

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Stocks Reporter

FXStreet

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