What's Going On With Rumble Stock Tuesday?

Rumble Inc RUM shares are trading higher. The company on Tuesday posted an offer letter to TikTok on social media.

What Happened: Rumble unveiled an offer letter for TikTok from its CEO Chris Pavlovski on X Tuesday morning.

“In the event that ByteDance divests its ownership in TikTok, Rumble is ready to join a consortium with other parties seeking to acquire and operate TikTok inside the United States. Specifically, we are ready to serve as a cloud technology partner,” Pavlovski said in the letter.

Rumble also highlighted the recent launch of Rumble Cloud in the offer letter. On Monday, Rumble announced the public launch of Rumble Cloud, which aims to empower businesses to become independent from unfair pricing, vendor lock-in strategies and censorship.

Check This Out: ‘Enemy Of The People’: Trump Slams Meta Stock As TikTok Ban Faces Scrutiny

“Rumble Cloud is essential in today’s market. A trusted partner since day one, Rumble Cloud’s incredible service and unrivaled performance have paved the way for Truth Social’s rapid growth,” said Devin Nunes, CEO of Trump Media and Technology Group.

Rumble is a video platform and cloud services provider focused on creating an independent infrastructure. The company entered into a technology and cloud services agreement with Trump Media & Technology Group in late 2021.

How To Buy RUM Stock

By now you're likely curious about how to participate in the market for Rumble – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.

In the case of Rumble, which is trading at $7.25 as of publishing time, $100 would buy you 13.79 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

RUM Price Action: Rumble shares were up 14.2% at $7.63 at the time of publication, according to Benzinga Pro.

Photo: Shutterstock.