Shares of technology company Rumble (RUM -6.39%) are at 52-week highs as of this writing, having jumped roughly 300% in value since lows set back in January. And much of its leap is thanks to a massive $775 million investment from the investment arm of Tether Limited, the company behind the cryptocurrency stablecoin Tether (USDT -0.03%).
Rumble stock price has gone parabolic this month as it surged to a record high of $17.35, its highest level since February 2022. It has soared by 28% this week and 380% from its lowest level this year, pushing its valuation to over $3.6 billion.
After a rapid upward shift in previous days, Rumble (RUM -2.69%) stock was gaining again in Tuesday morning trading. The share price was up 3.7% as of noon ET, though it had been up by as much as 17.2% earlier in the session.
The stock price of Rumble Inc. (NASDAQ: RUM), a video sharing platform, was up a large 81% on Monday, December 23. The surge came after the company announced that Tether – a digital payment system that uses blockchain technology – will invest $775 million in Rumble.
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