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RUMBLE INC (RUM) Stock Jumps 20.7%: Will It Continue to Soar?
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Rumble Inc. (RUM - Free Report) shares rallied 20.7% in the last trading session to close at $7.17. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.7% gain over the past four weeks.
Rumble is benefiting from the successful launch of Rumble Cloud and Rumble Studio, strategic partnerships, and growth in creator adoption and advertising revenues.
This company is expected to post quarterly loss of $0.15 per share in its upcoming report, which represents a year-over-year change of +6.3%. Revenues are expected to be $19.88 million, down 20.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For RUMBLE INC, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RUM going forward to see if this recent jump can turn into more strength down the road.
RUMBLE INC is part of the Zacks Internet - Software industry. Rekor Systems, Inc. (REKR - Free Report) , another stock in the same industry, closed the last trading session 0.5% higher at $1.95. REKR has returned 32.9% in the past month.
For Rekor Systems, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.13. This represents a change of +27.8% from what the company reported a year ago. Rekor Systems currently has a Zacks Rank of #3 (Hold).
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RUMBLE INC (RUM) Stock Jumps 20.7%: Will It Continue to Soar?
Rumble Inc. (RUM - Free Report) shares rallied 20.7% in the last trading session to close at $7.17. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.7% gain over the past four weeks.
Rumble is benefiting from the successful launch of Rumble Cloud and Rumble Studio, strategic partnerships, and growth in creator adoption and advertising revenues.
This company is expected to post quarterly loss of $0.15 per share in its upcoming report, which represents a year-over-year change of +6.3%. Revenues are expected to be $19.88 million, down 20.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For RUMBLE INC, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RUM going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
RUMBLE INC is part of the Zacks Internet - Software industry. Rekor Systems, Inc. (REKR - Free Report) , another stock in the same industry, closed the last trading session 0.5% higher at $1.95. REKR has returned 32.9% in the past month.
For Rekor Systems, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.13. This represents a change of +27.8% from what the company reported a year ago. Rekor Systems currently has a Zacks Rank of #3 (Hold).