Rumble’s Crypto Presence Set To Strengthen Following Tether’s Recent Investment: Analyst
Wedbush analyst Scott Devitt reiterated the Neutral rating on Rumble Inc. (NASDAQ:RUM) on Tuesday, lowering the price forecast from $13 to $10.
Yesterday, the company reported fourth-quarter sales of $30.20 million (+48% year over year), beating the analyst consensus estimate of $29.73 million. Average Revenue Per User for the fourth quarter was $0.39, compared to $0.33 in the third quarter, an increase of 18%.
For the first quarter, the company expects at least 25% revenue growth year over year.
Read Next: US Adds 50 Chinese Entities To Export Restriction List Curtailing Access To Nvidia, AMD Chips
The analyst expresses optimism about Tether’s recent investment in Rumble. This investment will enable the company to focus on…
