Rumble Inc (NASDAQ:RUM) shares are moving Thursday. The stock spiked in Wednesday’s after-hours session after the company announced a subscription bundle with Perplexity.
- RUM is trending today. Follow the breaking news here.
What To Know: Rumble announced the launch of a subscription bundle that includes Rumble Premium and Perplexity Pro. Users who sign up before the end of the year will be able to purchase a package that includes both subscriptions for $19.99 per month.
“Rumble and Perplexity are working together to offer the best tech and tools for the best user and creator experience found anywhere online,” said Chris Pavlovski, CEO of Rumble.
The news comes after Rumble and Perplexity announced a partnership at the beginning of the month to help users better discover relevant content. The companies said at the time that the deal included several initiatives, including the integration of Perplexity's AI-powered tools, the introduction of a new subscription bundle and the promotion of Perplexity's new Comet product across the Rumble ecosystem.
RUM Analysis: Rumble stock is trading within its 52-week range of $5.25 to $17.39 and is currently 5.5% above its 50-day moving average, suggesting a potential bullish sentiment as it holds above this key level.
Despite the positive movement, Rumble’s year-to-date performance remains a concern, down 34.9%. The stock is also trading below its 200-day moving average of $9.03, which is 10.7% above the current price, indicating a longer-term bearish trend that could weigh on investor sentiment.
The relative strength index (RSI) at 54.04 signals a neutral position, suggesting that the stock is neither overbought nor oversold. The calculated support level is at $8.01, which aligns closely with the previous close of $8.00. A break below this level could lead to further downside, while resistance is identified at $8.94, presenting a target for bullish traders looking for upward momentum.
RUM Price Action: Rumble shares were up 0.31% at $8.025 at the time of publication on Thursday, according to Benzinga Pro. The stock spiked to around $8.35 in after-hours Wednesday before pulling back.
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