We recently compiled a list of the 10 Firms Kick Off 2025 Trading in The Red. In this article, we are going to take a look at where Rumble Inc. (NASDAQ:RUM) stands against the other stocks.
The stock market finished the first trading day of the year in the negative territory—a fifth straight day, over the lack of catalysts to spark trading appetite.
The Dow Jones Industrial Average was down the most by 0.36 percent, the S&P 500 decreased 0.22 percent, and the Nasdaq Composite dipped 0.16 percent.
Ten companies also kicked off trading mirroring the broader market downturn. In this article, let’s explore the reasons behind their decline.
To come up with Thursday’s top losers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A large flat-screen TV streaming video from a video hosting platform.
Rumble Inc. (NASDAQ:RUM)
Rumble Inc. (NASDAQ:RUM)’s shares dropped for a fourth day, losing 4.69 percent or 0.61 points to end at $12.40 each amid the lack of fresh catalysts to perk up buying.
Prospects for Rumble, however, remained positive after the company recently clinched a strategic investment worth $775 million from Tether, the largest company in the digital assets industry and the most widely used dollar stablecoin globally with more than 350 million users.
Over the last few years, Tether has become one of the most recognized symbols of financial inclusion.
According to Rumble Inc. (NASDAQ:RUM), a total of $250 million of the proceeds will be used to support growth initiatives, and the remaining proceeds to fund a self-tender offer for up to 70 million Class A common shares.
Overall RUM ranks 4th on our list of the stocks that crashed yesterday. While we acknowledge the potential of RUM as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than RUM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock
Disclosure: None. This article is originally published at Insider Monkey.