Rumble Inc. (RUM), a video-sharing platform popular among conservatives, saw its stock plummet 5.04% on Tuesday morning. This decline is part of a broader sell-off in Trump-related assets, driven by investors' concerns over the former president's legal troubles and political uncertainty.
The stock's downturn comes in the wake of reports suggesting that Trump's legal woes could intensify, with potential indictments looming related to his handling of classified documents and his role in the January 6th Capitol riots. These developments have cast doubt on Trump's ability to mount a successful 2024 presidential campaign, impacting the prospects of companies closely tied to his brand and political influence.
Rumble, which positions itself as a free speech alternative to mainstream platforms like YouTube, had seen a surge in popularity and user growth during Trump's presidency. However, the recent sell-off suggests that investors are reevaluating the platform's long-term prospects in a post-Trump political landscape.
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