10 Tech, Energy Stocks Are Wednesday’s Worst Performers

6. Rumble Inc. (RUM)

Rumble (RUM) saw its shares decline by 12.27 percent on Wednesday—a second consecutive day—to finish at $11.65 each as investors resorted to profit-taking over the lack of catalysts to spark buying appetite.

Since the start of the year, the company’s current valuation already marked a 10.66-percent drop, indicating investor caution.

Analysts, however, signaled earlier prospects for Rumble (RUM) to remain strong after the company clinched a strategic investment worth $775 million from Tether—the largest company in the digital assets industry and the most widely used dollar stablecoin globally 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.