DWAC - Why did Rumble stock rise today? Tucker Carlson's on the market

2023-04-24 16:23:06 ET

Conservative-focused video platform Rumble ( NASDAQ: RUM ) rose 5.9% Monday, marking its biggest gain in a month, as the day's media news was dominated by high-profile terminations in cable news.

Notably, that included Fox News ( FOX ) ( FOXA ) parting ways with Tucker Carlson , the high-ratings network's highest-rated personality and an increasingly influential figure in media and politics.

Fox News surprised the media world with a sudden announcement that Friday was Carlson's last show on their air. On Friday's program, Carlson gave no indication the change was on the way, saying he'd see viewers on Monday -- and on Monday morning, Fox News was previewing Carlson's Monday evening show.

Rumble stock immediately starting rising as the news fed new speculation that the site could benefit from powerful new additions. The platform hosts a number of leading conservative voices running channels a la YouTube.

Dan Bongino, another figure with a following on the political right, also exited Fox News in the past few days, but had launched a channel on Rumble in February.

Along with Rumble, Digital World Acquisition ( DWAC ) -- the blank-check company associated with efforts to take Donald Trump's Truth Social platform public -- rose 2.8% Monday. Fox wrapped the day lower, for its part: ( FOX ) -2.9% , ( FOXA ) -2.9% .

More on cable TV terminations

• Top host Tucker Carlson out at Fox News; Fox stock dips
• CNN ousts morning anchor Don Lemon amid controversies
• NBCUniversal CEO Jeff Shell leaves company after 'inappropriate relationship'

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