Rumble Shares Jump 18% After Expressing Interest in Acquiring TikTok
Dow Jones03-13
Rumble shares rose 18.3% to $7.90 on Tuesday following its expression of interest in taking over TikTok.
The stock is down 14% over the past 12 months.
Chris Pavlovski, chief executive of the video-sharing site, said Rumble is ready to join a consortium with other parties seeking to acquire and operate TikTok inside the United States in the event that China's ByteDance divests its ownership in the video app.
Specifically, Rumble said it's ready to serve as a cloud technology partner. The offer comes a day after publicly launching Rumble Cloud, a cloud offering for businesses.
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