Rumble stock jumps 66% after $775 million investment from Tether

Rumble's stock surged 66% after the company announced a $775 million investment from Tether. This investment is significant, given Rumble's valuation of around $2 billion and its ongoing financial losses, totaling nearly $102 million this year. The investment will not be fully available until early 2025. Of the total, $250 million will support Rumble's business operations, while $500 million is designated for buying shares from willing shareholders at $7.50 each. Despite the complexities of the investment, Rumble will gain additional financial stability. The $250 million for business growth extends its runway, allowing the company more time to improve its financial situation.