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Tucker Carlson’s Twitter Move Wipes $235 Million From Rumble

  • Peter Thiel-backed platform sinks as much 12% on Wednesday
  • Rumble has emerged as a right-wing alternative to YouTube
Bloomberg business news
Watch: Former FOX News host Tucker Carlson is launching a show on Twitter. Source: Bloomberg
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Tucker Carlson’s plan to start a new show on Twitter erased $235 million in value from video platform Rumble less than three weeks after his move from Fox Corp. sent shares spiraling.

The move pushed the Peter Thiel-backed video network down as much as 12%, before trimming losses by half, as traders discussed whether Rumble will now have to compete with Twitter for users seeking conservative media personalities. Investors had snapped up shares of Rumble and other stocks as speculation over Carlson’s next landing spot spread last month.