NEW YORK, December 31, 2025, 13:32 ET — Regular session
- Rumble shares were down about 2.6% in early afternoon trading, underperforming broader U.S. indexes.
- Investors remain focused on Rumble’s proposed Northern Data acquisition and signs its cloud strategy is gaining traction.
- With markets shut Thursday, traders are watching for any year-end disclosures and the next earnings update.
Shares of Rumble Inc fell 2.6% to $6.39 in early afternoon trading on Wednesday, after touching a session low of $6.35 and a high of $6.60.
The move comes as investors keep a close eye on Rumble’s push beyond video into cloud and AI-related infrastructure, anchored by its proposed purchase of Germany’s Northern Data in an all-share deal that Reuters valued at about $767 million. 1
Fresh company-specific triggers were scarce. Rumble’s SEC EDGAR page showed its most recent filing was a Form 4 dated Dec. 1 — a disclosure used to report insider transactions. 2
The broader tape offered little help: the S&P 500 ETF and Nasdaq 100 ETF were both down about 0.3%, while the Russell 2000 small-cap ETF slid about 0.4%. Bitcoin was down about 0.7%.
Rumble last reported quarterly results in November, when it said revenue was $24.8 million for the quarter ended Sept. 30 and monthly active users (MAUs) — a measure of engagement — were 47 million. Average revenue per user (ARPU) was $0.45, and the company reported a net loss of $16.3 million; it also said it had $293.8 million of liquidity and held 210.82 bitcoin as of Sept. 30. 3
Management has argued the cloud business is drawing interest alongside the platform’s video operations. “We’re seeing quite a lot of interest … from not just governments and countries,” CEO Chris Pavlovski said on an earnings call, describing RFPs — short for “request for proposal,” a formal bid process for large contracts. 4
Wall Street coverage remains thin, leaving sentiment sensitive to deal headlines and quarterly metrics. MarketBeat data showed three analysts rate the stock “Hold,” with an average 12-month price target of $14 and a range of $8 to $20. 5
For investors, the near-term checklist is straightforward: any progress disclosures on the Northern Data transaction, evidence the cloud strategy can translate into repeatable contracts, and whether Rumble can stabilize user trends while improving monetization.
Traders were also watching whether the shares could hold near Wednesday’s low into the close, a level that often becomes a short-term “support” area if buyers step in again.
The calendar may also shape liquidity. U.S. stock markets will be closed on Thursday for New Year’s Day, while bond markets close early at 2 p.m. ET on Wednesday, MarketWatch reported. 6
