What Happened?

Shares of video sharing platform Rumble (NASDAQGM:RUM) jumped 3.7% in the afternoon session after investor interest grew in its proposed business combination with Northern Data AG, which was intended to expand the company's AI and high-performance computing infrastructure. The company said the transaction would add one of the largest collections of GPUs in Europe and a data center business. Rumble expected this would help scale its cloud operations, accelerate international expansion, and advance its AI roadmap for creators, video, and advertising. The deal's acceptance and closing were expected in the second quarter of 2026.

After the initial pop the shares cooled down to $5.98, up 4.1% from previous close.

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What Is The Market Telling Us

Rumble’s shares are extremely volatile and have had 43 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 1 day ago when the stock dropped 0.2% on the news that geopolitical tensions between the United States and the European Union escalated, sparking fears of a renewed trade war. 

The broader markets adopted a "risk-off" mode, with investors seeking safe-haven assets amidst the uncertainty. The market's primary fear gauge, the VIX, jumped to a fresh eight-week high, signaling rising investor anxiety. The dispute, centered on Greenland, raised the possibility of a revived trade conflict, which could disrupt global supply chains and economic activity. Mega-cap technology stocks, many of which have significant international sales and operations, were particularly affected by the souring risk sentiment as a potential trade war threatens their global business models.

Rumble is down 6.2% since the beginning of the year, and at $5.98 per share, it is trading 56.1% below its 52-week high of $13.61 from January 2025.

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