RUM arrives at its June 11 earnings with the lending market fully exhausted — availability has dropped to just 2%, meaning nearly every share in the borrow pool is already lent out, the tightest reading in weeks and well below the recent highs above 9%.
That tightness is the defining feature of the setup. Short interest holds at 11.5% of free float — roughly 24.8 million shares — and has crept up about 1.7% on the week, a modest addition but one landing in a market where new borrows are nearly impossible to source. Cost to borrow has eased considerably from the extraordinary 131% annualised rate hit in late April, and now runs near 13.9%. That normalization in cost reflects a settled short base rather than retreating conviction. The ORTEX short score sits at 85.8 out of 100, ranking in the very top tier of the broader universe — and has barely moved over the past ten days, suggesting bears are dug in rather than rotating out. The stock itself fell sharply over the past week, down nearly 18%, before recovering 3.8% on Monday to close at $7.87. Correlated peers were also broadly weaker — ZIP and PSQH dropped roughly 18–19% on the week — suggesting some of Rumble's pressure reflects sector-level selling rather than stock-specific deterioration alone.
Options traders, however, are telling a different story. The put/call ratio has dropped to 0.158, the lowest reading of the past 52 weeks and nearly two standard deviations below its 20-day average — a clear lean toward calls rather than puts into the print. That divergence is notable: while the short base is entrenched and borrow is exhausted, options positioning suggests a contingent of traders is angling for upside rather than hedging against further losses.
The bull case rests on Rumble's political and cultural moment — the platform has a differentiated free-speech positioning and has attracted institutional crypto backing through Tether, which holds around 30.9% of shares. CEO Christopher Pavlovski holds another 28%. That concentrated ownership limits actual float substantially, which helps explain why availability is so thin. Analyst coverage remains sparse and stale — the most recent on-record action dates from early 2025 when Wedbush trimmed its target to $10 and held a Neutral rating — and at a current price of $7.87, that target implies a meaningful gap, though the data is too dated to carry significant weight. Bears point to a Piotroski F-score of 2, negative return on assets of -19%, and a business model that has not yet converted its audience base into consistent revenue. The prior earnings print on May 14 saw the stock fall over 13% on the day before recovering partially over the following week, a pattern that sets a clear reference point for downside sensitivity.
Thursday's report will test whether Rumble's monetization trajectory can show enough progress to challenge a short base that has committed fully to its position — in a lending market that has effectively run out of room.
See the live data behind this article on ORTEX.
Open RUM on ORTEX →ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
