<span class="figure-article-caption-owner"><p>Julie Bang / Investopedia</p></span>
Rumble Stock Soars After Video Platform Gets $775M Investment From Tether
18 minutes ago
Rumble (RUM) shares skyrocketed Monday morning after the video platform received a $775 million investment from Tether, operator of a cryptocurrency platform and creator of the stablecoin of the same name.
Rumble announced that Tether had purchased 103.3 million shares of Rumble for $7.50 each. It noted that the transaction would not change the status of Chief Executive Officer (CEO) Chris Pavlovski as the firm’s majority stakeholder. The transaction is expected to close in the first quarter of 2025.
The company said it will use $250 million of the proceeds to “support growth initiatives and the remaining proceeds to fund a self tender offer for up to 70 million of its Class A Common Stock, at the same price.”
Oppenheimer wrote in a note to clients that for Rumble, the deal “should alleviate investor concerns related to liquidity” ahead of positive free cash flow. It has a “perform” rating on the stock.
Shares of Rumble were up 80% Monday morning at $13.20, their highest level since November 2022.
-Bill McColl
Honda Stock Surges as Automaker Plans To Merge With Nissan in 2026
1 hr 23 min ago
Honda’s (HMC) U.S.-listed shares popped Monday morning after the Japanese automaker and Nissan announced the signing of a memorandum of understanding (MOU) outlining their plans to merge in 2026.
The automakers plan to finalize the terms over the next several months and announce a definitive agreement in June 2025. A combined entity is expected to be listed on the Tokyo Stock Exchange in August 2026, the companies said.
Honda also announced a plan to buy back up to 1.1 trillion Japanese yen ($7 billion) worth of the automaker’s own stock over the next calendar year, replacing a 100 billion yen ($636.3 million) plan announced last month.
Japanese regulators have not explicitly spoken about the Honda-Nissan deal, but Yoji Muto, head of the Ministry of Economy, Trade and Industry, said last Friday that the government “should take a favorable view when companies cooperate to strengthen their competitiveness,” The Wall Street Journal reported.
Honda’s U.S.-listed shares soared 13% in early trading Monday after entering the day down about 23% this year.
-Aaron McDade
Stock Futures Mixed To Start Holiday-Shortened Week
2 hr 18 min ago
Futures contracts connected to the Dow Jones Industrial Average traded 0.5% lower in premarket trading on Monday.
S&P 500 futures were off 0.2%.
Nasdaq 100 futures were barely hanging onto gains shortly before markets opened.
