Why Rumble Stock Spiked Over 11% In After-hours Today

by

Rumble said the collaboration with AI startup Perplexity would help users discover relevant content in an increasingly crowded media landscape

Shares of conservative video-sharing platform Rumble Inc. (RUM) climbed over 11% in Thursday’s after-hours session, with the rally picking up further steam in overnight trading. The after-hours strength followed the media company’s announcement of an artificial intelligence (AI) partnership.

Add Asianet Newsable as a Preferred Source

On Stocktwits, retail sentiment toward Rumble stock remained ‘bullish’ (75/100) as of late Thursday, although improving by a few points, while the message volume on the stream grew to ‘high’ levels. The stock was among the top five trending equity tickers on the platform.

RUM sentiment and message volume as of 9:45 p.m., Oct. 2 | source: Stocktwits

Longboat Key, Florida-based Rumble said Thursday that it has struck a strategic partnership with AI startup Perplexity, envisaging initiatives such as:

  • Integration of Perplexity’s AI-powered tools to drive more discoverability on Rumble.com
  • Introduction of a new subscription bundle combining Rumble Premium with Perplexity Pro
  • Promotion of Perplexity’s new product Comet across the Rumble ecosystem, including the Rumble Advertising Center.

 

Comet is Perplexity’s AI-powered browser, which provides contextual assistance and intelligent search capabilities. Rumble said the collaboration would help users discover relevant content in an increasingly crowded media landscape, enabling creators to reach their target audiences and viewers seeking specific topics or discussions.

Rumble founder and CEO Chris Pavlovski, “We are thrilled to partner with Perplexity as we dive deeper into the AI space across our customer base.” “On the product side, we are excited to work with Perplexity and their AI technologies to drive substantial improvements to the discoverability across our platform.”

The integration of Perplexity’s search technology into Rumble.com will be rolled out progressively, with the subscription bundle and Comet browser promotion launching in conjunction with the enhanced search capabilities.

A bullish user said they expected shorts to get burnt. According to Koyfin data, the short interest in the stock is 5.20%.

Another user lamented a lost opportunity. “$RUM bought 100 shares 3 days ago wish I bought 1000,” they said.

Rumble stock is down 43% year-to-date, but the consensus price target ($14.50), compiled by Koyfin, suggests there is about 96% upside potential. 

For updates and corrections, email newsroom[at]stocktwits[dot]com.<

Leave a Comment