Barstool Deal Adds $502 Million to Video Site Rumble’s Value (1)

A partnership with Dave Portnoy’s Barstool Sports is powering shares of video platform Rumble Inc. higher.

Investors flocked to the company backed by billionaire Peter Thiel, driving shares up 36% — adding about $502 million to its value. It was the biggest intraday share move since the company began trading in September 2022. The pact announced Monday will provide Rumble users access to all of Barstool’s sports and entertainment content on the platform and includes an advertising arrangement.

Nearly 22 million shares changed hands on Monday, almost 12 times the average seen over the past 30 days. ...