Video-sharing platform Rumble considers adding Bitcoin to its balance sheet, shares rise 9%

Odaily Planet Daily Report: Video sharing platform Rumble Inc (RUM) saw its stock price rise 9% in after-hours trading on November 19, reaching a high of $6.20, after its founder and CEO Chris Pavlovski earlier initiated a poll on X: "Should Rumble add Bitcoin to its balance sheet?" About 29,000 people chose "Yes." "Yes. We'd be happy to help if needed," said Jack Mallers, CEO and founder of Bitcoin payment provider Strike. MicroStrategy chairman Michael Saylor proposed discussing with Pavlovski how to do this, and the latter seemed to accept the suggestion. Google Finance data shows Rumble's stock price closed up 2.5% at $5.68 on the day, briefly touching a high of $6.20 in after-hours trading, and is currently at $5.78, up 1.76% from the close. Rumble operates a video sharing platform of the same name, known for its lax content moderation policies. Its cloud services division also hosts the Truth Social social media platform owned by Trump. Rumble has about 67 million monthly active users and began publicly trading on Nasdaq in September 2022. As of September 30, 2024, Rumble's balance sheet had about $132 million in cash, cash equivalents, and marketable securities. The platform generated revenue of about $25 million in the third quarter, up 39% year-over-year. (Cointelegraph)