[ad_1]
Republican nominee Donald Trump’s choice of a former venture capitalist as his vice presidential nominee could be attracting retail traders to one of the companies JD Vance backed, according to JPMorgan. JPMorgan analyst Kamal Tamboli said in a note to clients Wednesday evening that retail traders are piling into Rumble , a YouTube competitor aimed at conservatives. “Retail traders appear to be closely following US election developments with demand for RUM reaching a quarterly record after the announcement of J.D. Vance as the Vice Presidential nominee for the Republican party,” the note said. Vance’s venture capital firm Narya Capital invested in Rumble before it became public. Vance’s most recent personal financial disclosure showed an investment in Rumble of between $100,001 and $250,000. That disclosure was for 2022, and it is unclear if Vance still holds the position. Rumble went public in 2022 after merging with a special purpose acquisition company. Narya said in a 2023 filing that it planned to sell more than 3 million shares of Rumble. Shares of Rumble are up 17% this week. Trump announced Vance as his vice presidential pick on Monday. RUM 5D mountain Shares of this company linked to JD Vance are up 17% this week. Even with the increased activity, Rumble’s trading volume is still well below that of Truth Social-parent Trump Media , which has become a meme stock.
[ad_2]
Source link
