Rumble Inc. RUM shares soared 6.6% in the last trading session to close at $6.11. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 8.3% gain over the past four weeks.
Rumble is benefiting from its role as a free-speech focused video platform and its recent cloud expansion, appealing to clients and advertisers seeking an alternative to the major tech companies.
This company is expected to post quarterly loss of $0.13 per share in its upcoming report, which represents a year-over-year change of +7.1%. Revenues are expected to be $29.25 million, up 62.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For RUMBLE INC, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RUM going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
RUMBLE INC is part of the Zacks Internet - Software industry. Sea Limited Sponsored ADR SE, another stock in the same industry, closed the last trading session 2.3% lower at $93.56. SE has returned -0.1% in the past month.
Sea Limited's consensus EPS estimate for the upcoming report has changed +14.1% over the past month to $0.59. Compared to the company's year-ago EPS, this represents a change of +883.3%. Sea Limited currently boasts a Zacks Rank of #3 (Hold).
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