10 Hottest Stocks: What’s Fueling Their Rise

2. Rumble Inc. (RUM)

Shares of Rumble rallied anew on Thursday, registering a 28.31-percent increase to close at $16.27. Year-to-date, the company saw its share prices rose by almost four folds from the $4.34 closing on January 2.

Last week, the company announced that it entered into a definitive agreement for a strategic investment of $775 million from Tether, the largest company in the digital assets industry and the most widely used dollar stablecoin across the world with more than 350 million users. Over the last few years, Tether has become one of the most recognized symbols of financial inclusion.

According to Rumble (RUM), a total of $250 million of the proceeds will be used to support growth initiatives and the remaining proceeds to fund a self-tender offer for up to 70 million Class A common shares.