Rumble stock rises 3.7% after Tether announces $775 million investment

Rumble stock rose 3.7% on Tuesday after a significant investment announcement. Tether will invest $775 million, buying 103 million shares at $7.50 each. Rumble plans to use $250 million for growth and buy back shares from current investors. The investment comes as Rumble faces financial challenges, reporting a $31.5 million loss in the third quarter. The company had $132 million in cash at that time. The new funds will extend its operational runway by two years based on current spending. Rumble's stock has surged 103% over the past month, fueled by meme-stock interest. However, concerns remain about the company's fundamentals and whether the recent momentum can be maintained.