Shares of video platform Rumble (NASDAQ:RUM) saw its shares surge to a high of almost 18% in today’s session. There was no company-specific news to act as a catalyst for today’s gains.
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Instead, today’s rally might be the result of a short squeeze. Last week, the stock was hit with a short-seller report that caused the stock to plunge. As a result, the broader market rally may have caused short-sellers to cover their positions.
Is RUM Stock a Buy?
Currently, there is only one analyst who has been covering RUM stock. Tom Forte has a Buy rating on the stock with a $15 price target, implying 36.12% upside potential.
