Rumble Shares Are Rising Following Tesla CEO Elon Musk's Twitter Acquisition: What's Going On?

Rumble Inc RUM shares are trading higher by 14% to $11.80 Friday afternoon, possibly due to the closing of Elon Musk's acquisition of Twitter, which has led to speculation of a potential future partnership.

Elon Musk in September tweeted to Rumble's CEO Chris Pavlovski saying 'Maybe worth talking at some point.'

The Pavlovski tweet Musk was responding too stated: "I founded Rumble and forever wanted to work with you. Below is from 2010 when I visited SpaceX. I was ready 12 years ago, and I'm ready 12 years from now. Whenever you're ready. In the meantime, let's peer our datacenters with Starlink to secure free speech".

What Else?

Musk snapped Twitter for $44 billion in a deal finalized today. Musk plans to take over the role of Twitter CEO and reverse life bans, reported Bloomberg, citing a person familiar with the matter. He may remain CEO in the interim but is likely to give up the role in the longer term, as per the report.

Musk has terminated Twitter’s CEO Parag Agrawal and Chief Financial Officer Ned Segal, and legal affairs and policy chief Vijaya Gadde, reported Reuters, citing people familiar with the matter...Read More

According to data from Benzinga Pro, Rumble has a 52-week high of $18.52 and a 52-week low of $6.35.