The news that social media platform Rumble (NASDAQ:RUM) was aligning itself with Barstool Sports was welcome news indeed. Sufficiently welcome to send shares up when it was announced and sufficiently so to keep investors interested in Tuesday’s trading. In fact, Rumble was up nearly 33% in the closing minutes of Tuesday’s trading, thanks largely to the Barstool deal.
Rumble is often regarded as the conservative answer to YouTube, a place that’s less about making advertisers feel safe, warm, and loved and more about allowing content creators to actually say things without worrying about offending some group or another. The list of terms that aren’t considered “family friendly” on YouTube, by some reports, is massive and growing. At any rate, Rumble’s connection to Barstool Sports is doing especially well. Rumble offers a place for Barstool to air its content, and Barstool promotes Rumble in turn. Rumble also has a deal with former President Donald Trump to host his content after it was largely run off of YouTube for some time.
Another Growth Move
Certainly, the Barstool impact is driving gains right now, but Rumble isn’t resting on its collective laurels. In fact, Rumble also rolled out a new tool that’s giving it a little more of a competitive edge: a livestreaming tool known as Rumble Studio. With live streaming, users can effectively air live video and can even stream that video to different platforms. Audience engagement tools are also included and may well represent the best chance to unseat YouTube’s current dominance in the field.
Is Rumble a Good Stock to Buy?
Turning to Wall Street, a look at the last five days of trading for Rumble stock shows that it’s been largely driven by the news cycle. Trading was mostly flat from the 18th all the way until the 22nd when shares started making gains. While there were some ups and downs in those gains—very much a sawtooth pattern—there’s no denying that it was on a mostly upward cant for those five days.
