Rumble’s Stock Price Testing Upside Resistance as Crypto Wallet Launch Boosts Sentiment

Rumble's stock price (NASDAQ: RUM) has once again tested $11 resistance, with bulls looking to set up a rally, before the fading on the day to close below $10 at $9.89. Despite the wild intraday swing, 1.64% to start the week, and the stock has had a recent wave of positive sentiment, adding 10% over the past week, and 20% in the past month, as the company edges closer to launching its highly anticipated crypto wallet.

With crypto gaining traction, and Bitcoin having tested $120,000, sentiment in all things adjacent is firmly positive in recent weeks, with Rumble holders faring well.

The latest catalyst driving bulls is the imminent launch of the Rumble Wallet, slated for the third quarter of 2025, and the ongoing impact of Tether's substantial $775 million investment in the company. Announced back in December 2024, Tether's investment was intended to bolster Rumble's financial position and accelerate its expansion into the cryptocurrency space.

The partnership extends beyond just capital infusion, with plans to onboard Tether's portfolio companies onto Rumble Cloud, significantly expanding its customer base and revenue potential.

Rumble's CEO, Chris Pavlovski, has been vocal about the strategic importance of the Rumble Wallet, a non-custodial solution developed in collaboration with Tether.

The wallet is designed to support Bitcoin and stablecoins, providing content creators with decentralized financial tools to monetize their content directly. Pavlovski has emphasized that the wallet will “help monetize creators better than most advertisers, especially in international markets,” highlighting the company's ambition to empower creators and challenge the dominance of traditional advertising models.

The positive market reaction to these developments has been further supported by Rumble's solid financial performance in the first quarter of 2025.

The company reported revenue of $23.7 million, a 34% increase year-over-year, driven by growth in subscription revenue and enhanced monetization across its video and advertising platforms. While Rumble still reported a net loss, it narrowed significantly to $2.7 million, a substantial improvement from the $43 million loss in the same quarter of the previous year.

Looking to the street for support, and the average price target of $15 would reflect more than 50% upside from the latest close. Volatility swings both ways however, and there are clear risks that warrant keeping a reasonably close stop loss.

While the company faces challenges, including competition and profitability concerns, its commitment to innovation and its strategic positioning within the evolving digital economy seem to be setting it up for a continued momentum play. When, or if, momentum shifts, $9 looks to be near term support.