Trefis Team
3 min read
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Rumble (RUM) stock now trades about two thirds below the high close it set in September 2022. Many investors still measure the shares against that peak, treating the old mark as the price Rumble should trade at while they wait for a rebound. Assessing the actual distance to that record is worthwhile before waiting any longer. So how big a gain does Rumble stock need to get back?
Rumble Stock Needs A 188% Gain To Get Back
Returning to the September 2022 high close would require Rumble stock to gain 188.3%, overcoming a 65.3% decline. Even if the climb took three years, it would demand a 42.3% annual return. An investor who bought at the peak would need that exact yearly performance just to break even.
A long wait costs most when Rumble is a large share of what you own. See how to protect a concentrated position.
Has Rumble Stock Ever Gained 188% In Three Years?
The shares have never achieved that return in a price history starting in April 2021. That record includes the blank-check company Rumble merged with before it began trading as RUM in September 2022, just days before its high. Counting every three-year stretch of 756 trading sessions in that period, with one beginning on each trading day, shows Rumble stock missed a 188.3% gain in all of them. The business may still do well, but getting back to its old high within three years requires a stock gain it has never made.
What Has Waiting Cost Rumble Holders?
An investor who bought at the peak has now waited 4.1 years. Rumble stock is down 65.3% before dividends over those years, while the S&P 500 is up 97.8% on the same basis. Waiting has therefore cost these holders twice: the loss on Rumble, plus the gain the index made over the same years.
Is Rumble The Same Business It Was Then?
Rumble is a much larger company today than it was at its stock peak, as the figures below show.
Revenue over the last twelve months reached $118 million, expanding to nearly nine times the $13.5 million reported in the twelve months before the high. Management said on the fiscal Q2 2026 call that Rumble is no longer only a video business. After buying most of Northern Data in June 2026, the company also runs Quake AI, which sells AI computing as a service. Even so, the operating loss remains slightly larger than revenue, just as it was in 2022, and the net loss has grown.
