Market Slump Drags Down Share Prices of These 15 Companies

9. Rumble Inc. (RUM)

Rumble Inc., a video sharing platform and cloud services company, saw its share prices tumble by 6.39 percent on Friday to finish at $15.23 apiece as investors took profits following a 28.31-percent increase in its valuation on Thursday.

Year-to-date, the company’s stock price rose almost fourfold 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 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.