Why These 10 Stocks Are Skyrocketing

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1. Rumble Inc. (NASDAQ:RUM)

Video platform Rumble (RUM) became the top gainer for the week, registering a whopping 26.8 percent increase from a $10 open on Monday to finish Tuesday’s trading at $12.68 apiece.

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.

While we acknowledge the potential of RUM as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than RUM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock

Disclosure: None. This article is originally published at Insider Monkey.

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