Shares of Rumble Inc. (RUM) soared 9.68% in pre-market trading on Monday, following a significant price target upgrade from Wedbush Securities. The video-sharing platform's stock received a boost after Wedbush analysts adjusted their price target on Rumble to $10 from the previous $8, while maintaining a Neutral rating on the shares.

The price target increase, representing a 25% upward revision, appears to have sparked renewed investor interest in Rumble. This adjustment suggests that Wedbush analysts see improved potential in the company's future performance, despite maintaining their Neutral stance. The pre-market rally indicates that investors are responding positively to this more optimistic valuation.

While the exact reasons behind Wedbush's decision to raise the price target were not immediately clear, such moves are typically based on factors like improved financial outlook, market positioning, or industry trends. Investors will likely be watching closely for any additional analyst comments or company announcements that might provide further insight into Rumble's prospects. As always, market participants are advised to conduct their own research and consider their individual risk tolerance before making investment decisions.