Rumble Inc. (NASDAQ:RUM), a video-sharing platform and Bitcoin mining firm, saw its stock price soar by 5.63% in the 24-hour trading session on Thursday, amidst bullish analyst coverage and investor optimism surrounding the potential creation of a US strategic cryptocurrency reserve.

Analysts at Maxim initiated coverage on Rumble with a "buy" rating and a one-year price target of $20, citing the company's growth prospects in the video-sharing and cryptocurrency mining sectors. Additionally, reports that the incoming Trump administration was considering adding cryptocurrencies like XRP, Solana, and USD Coin to a proposed US cryptocurrency reserve further fueled investor confidence in Rumble, which had previously announced a $20 million Bitcoin purchase for its own cryptocurrency reserve.

The positive sentiment around Rumble's involvement in the cryptocurrency space, coupled with the bullish analyst coverage, drove the stock's impressive 5.63% surge during Thursday's trading session, making it one of the top gainers among stocks with a market capitalization above $2 billion and daily trading volume exceeding $5 million.