Rumble Inc. (RUM) shares plummeted 5.07% during Tuesday's intraday session, marking a significant decline for the video platform's stock.
The sharp drop coincided with data showing Rumble experienced one of the largest indicative borrow rate increases among liquid option names, with its rate climbing to 18.61%, an increase of 2.38 percentage points. Higher borrow rates typically indicate increased short selling activity or greater demand to borrow shares for short positions, which can create downward pressure on a stock's price.
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