Rumble and SPAC Digital World Acquisition shares rise after Donald Trump indictment, Virgin Orbit’s stock tumbles and other stocks on the move
Here are some of the bigger and more-active U.S. stock movers on Friday:
- Shares of right-wing media platform Rumble Inc.
and special purpose acquisition company (SPAC) Digital World Acquisition Corp.
which is looking to take Donald Trump’s Truth Social public, rallied in morning trading, after the Donald Trump indictment news. Rumble also reported late Thursday better-than-expected fourth-quarter results. Rumble’s stock rose 5.6%, and Digital World shares gained 6.7%.
- Metropolitan Bank Holding Corp. shares
shot up 23% after the New York-based commercial bank issued a financial update assuring investors that it was well-capitalized. The bank’s stock had closed down 27% on Thursday.
- The regional bank sector showed further stabilization with a broad rally, as the SPDR S&P Regional Banking exchange-traded fund
tacked on 0.7%, and was headed for a second-straight weekly gain. Friday’s gain comes after data showed that commercial bank borrowing from the U.S. Federal Reserve declined again, which indicated that stress on the system was easing. Among some of the stocks that were hit hard earlier this month, in the wake of recent bank closures, shares of First Republic Bank
tacked on 1.4% and of PacWest Bancorp
were up 2.0%.
- Palisade Bio Inc.’s stock
soared 20%, to continue a Thursday rally after Maxim Group upgraded the stock from hold to buy.
- BlackBerry Ltd.‘s stock
leapt 14.5% after the cybersecurity-software company reported a narrower-than-expected fourth-quarter loss, although revenue fell shy of forecasts.
- Groupon Inc. shares
shot up 16% after the online-deal company announced a change in leadership, with Chief Executive Kedar Deshpande stepping down, and with Pale Fire Capital Co-founder Dusan Senkypl being named interim CEO.
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