We recently compiled a list of the These 10 Firms Dominated Last Week’s Rally. In this article, we are going to take a look at where Rumble Inc. (NASDAQ:RUM) stands against the other stocks that dominated last week’s rally.
Last week saw a strong trading finish with Wall Street’s main indices all settling in the green territory ahead of President-elect Donald Trump’s return to the White House.
Week-on-week, the Dow eked out a 3.81-percent gain, the S&P rallied 3.79 percent, while the Nasdaq increased by 3.84 percent.
Last week, 10 companies from diverse sectors outpaced their peers. Let’s take a closer look at which publicly-listed firms led the charge and what fueled their impressive performance.
For this week’s list of the 10 biggest advancers, we focused exclusively on companies with a market capitalization of at least $2 billion and a minimum trading volume of $5 million.
A large flat-screen TV streaming video from a video hosting platform.
Rumble Inc. (NASDAQ:RUM)
Shares of Rumble Inc., an online video-sharing platform, grew by 14.01 percent week-on-week to end at $12.90 apiece as investor confidence was fueled by the US government’s plan to ban TikTok in the country.
ByteDance, operator of TikTok which boasts as many as 170 million American users, was forced by the government to sell its US operations to an American company or face a ban over fears that its being operated by a Chinese company could pose a threat to US citizens’ sensitive information.
Last year, Rumble Inc. offered to buy TikTok, saying it was open to joining a consortium with other parties, albeit the details of the plans were not disclosed.
Regardless of whether Rumble (RUM) acquires TikTok, it stands to benefit from a potential surge in advertising payments that would have otherwise gone to TikTok. As of Sunday, January 19, TikTok is no longer active in the US.
READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap
This article is originally published at Insider Monkey.