What Happened With Rumble Stock After Trump Vs. Harris Presidential Debate?

Rumble, Inc. RUM shares moved lower Wednesday following Tuesday night's presidential debate between former President Donald Trump and Vice President Kamala Harris. 

The Details:

Shares of Trump-linked stocks, including Trump Media & Technology Group Corp. DJT and Phunware, Inc. PHUN, fell Wednesday as investors reacted to the consensus view that Harris won Tuesday's debate against Republican nominee Trump. 

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However, Rumble announced that it set multiple records during Tuesday night's debate. According to Streams Charts, Rumble logged a record for concurrent live viewers on the platform, as well as new records for the number of concurrent creator streams and peak bandwidth consumption. 

Rumble hit a peak of 1,044,513 concurrent live viewers during the debate and also set a new bandwidth throughput record on its own content delivery network (CDN). Additionally, Rumble was home to 31 of the top 100 live streams in the United States, according to LiveSearch.app, accounting for 11.8% of viewers by network and 31% of streamers by network. 

According to data from Benzinga Pro, Rumble's stock is down more than 11% over the past month and is trading below its 50-day moving average of $6.04. 

Will RUM Stock Go Up?

When trying to assess whether or not Rumble will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $8 on Rumble. Of all the analysts covering Rumble, no one has positive ratings, 2 have neutral ratings and no one has negative ratings.

In the last month, one analyst has adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Rumble have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Rumble is up 19.59% up year-to-date. The average analyst price target suggests the stock could have further upside ahead.

For a broad overview of everything you need to know about Rumble, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

RUM Price Action: According to Benzinga Pro, Rumble shares ended Wednesday's session down 4.07% at $5.19. 

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