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NEWS
Mega-Caps Bring In The Green

Mega-cap tech kept the major averages in the green as the rest of the market flatlined, with volumes light as expected as 2024 grinds to a halt. Individual stock news is keeping the market interesting, with many retail favorites finding a catalyst to continue moving enough to entertain traders who aren’t yet on holiday. 👀

Today's issue covers what has Rumble roaring back, top headlines summarized, and Daily Rip Live hosts’ key trades heading into year-end. 📰

Here’s the S&P 500 heatmap. 4 of 11 sectors closed green, with technology (+0.89%) leading and consumer staples (-1.28%) lagging.

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $SLGL, $RAPT, $DESP, $PONY, $SES 📉 $AILE, $KO, $IEP, $APLT, $TPIC*

*If you’re a business and want to access this data via our API, email us.

COMPANY NEWS
Rumble Roars After Tether Investment 📈 

YouTube competitor Rumble has been looking to break its link from the traditional “Trump Trade” stocks, and today’s news finally provides it with a catalyst. 🤔 

Tether, a cryptocurrency platform operator and creator of the Tether stablecoin, will invest $775 million in the company, buying 103.3 million shares at $7.50 each.

Rumble CEO Chris Pavlovski will remain a majority shareholder in the firm and said the company will use $250 million of the proceeds to “support growth initiatives.” The remaining funds will be used in a self-tender offer for up to 70 million of its Class A Common Stock at the same price to give existing shareholders exit liquidity.

Shares surged 81% to their highest level since September 2022, with Stocktwits sentiment hitting ‘extremely bullish’ territory. Additionally, 57% of 1,200 users polled expect this investment to boost confidence and growth in Rumble. 👍️ 

Lastly, while we’re talking about emerging media companies, sports streamer DAZN acquired Foxtel in a $2.2 billion deal. The acquisition will help establish the sports entertainment platform as a leader in its domain in the Australian market, enhancing its global reach and footprint. 📺️ 

SPONSORED
These cannabis gummies keep selling out in 2024

If you've ever struggled to enjoy cannabis due to the harshness of smoking or vaping, you're not alone. That’s why these new cannabis gummies caught our eye.

Mood is an online dispensary that has invented a “joint within a gummy” that’s extremely potent yet federally-legal. Their gummies are formulated to tap into the human body’s endocannabinoid system. 

Although this system was discovered in the 1990’s, farmers and scientists at Mood were among the first to figure out how to tap into it with cannabis gummies. Just 1 of their rapid onset THC gummies can get you feeling right within 5 minutes!

*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here.