/PRNewswire/ — Rumble, the video-sharing platform, has announced that Russell Brand, the influential comedian, actor, and podcaster, will launch a new daily… On the date of publication, Samuel O’Brient did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. DWAC stock has fallen too far to come back, unless it sees a miracle. In reality, Rumble’s success is also likely part of why Truth Social has fallen so far. The saga of the two platforms illustrates that their right-wing consumer marketplace is a zero sum game.
Additionally, buying SPAC stock at $10 presents a low risk to investors if the merger fails, because they’ll still get their money back. /PRNewswire/ — Today, the video-sharing platform Rumble announced that the company has launched free unlimited livestreaming for https://www.forexbox.info/ content creators with over… As of this writing, CFVI stock has risen by almost 17% within the first two hours of trading today. News of the Rumble SPAC merger broke yesterday after close of markets. When trading began today, CFVI immediately shot up by almost 44%.
That Rumble You Heard Was CF Acquisition Corp. VI Soaring 10% in December
Some believe Rumble has the potential to challenge mainstream social media platforms like YouTube that they believe unfairly censor content. Founded in 1993, The Motley Fool is a financial services company dedicated to making the world smarter, happier, and richer. The Motley Fool reaches millions of people every month through our premium investing solutions, free guidance and market analysis on Fool.com, top-rated podcasts, and non-profit The Motley Fool Foundation. All told, regardless of today’s performance, DWAC stock is still one to avoid.
However, don’t base your decision to buy or not based on these connections. Still, the blank-check partner of TMTG has seen a difficult season. Although DWAC is currently up 10% for the day, its surge this morning shouldn’t be taken as a cause for celebration. Following https://www.day-trading.info/ the deal announcement, investors rushed to get their hands on CFVI stock, driving it up to nearly $20. The stock has since dropped more than 40 percent amid a selloff that has hit equities across the board. Now, investors are wondering whether they should buy the dip.
The CF Acquisition SPAC requires the approval of its shareholders to close the Rumble merger, but it’s likely that their vote will pass—a large number of the SPAC shares are in the hands of insiders backing the deal. The Rumble merger is expected to close in July or Aug. 2022. Founded in 2013, https://www.forex-world.net/ Rumble operates a platform where people can upload videos to share with their fans, like YouTube. Although YouTube is popular, many creators are dissatisfied with it because of its restrictive terms. Rumble has positioned itself as an alternative to YouTube, emphasizing free speech.
If you’re confident Rumble’s star will continue to rise, you may want to consider it ahead of the merger close. Given the perception that YouTube engages in political censorship, Rumble will likely continue to report strong user growth and user engagement numbers. Just in the quarter ending March 31 alone, Monthly Active Users (MAUs) were up 22% quarter-over-quarter. Musk’s commitment to free speech is perceived to be a sign that demand for alternative platforms is about to dry up. At first, this connection provided not much of a boost for CFVI stock. But during February, this similar play came along for the ride.
Why February’s Jobs Data Is Remarkably Promising for Stocks
Shares of DWAC soared from about $10 per share to more than $94 after DWAC announced its plan to merge with Truth Social. However, regulatory scrutiny that could put the merger at risk has brought shares back to around $26 as of this writing. On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
The Barchart Technical Opinion widget shows you today’s overally Barchart Opinion with general information on how to interpret the short and longer term signals. Unique to Barchart.com, Opinions analyzes a stock or commodity using 13 popular analytics in short-, medium- and long-term periods. Results are interpreted as buy, sell or hold signals, each with numeric ratings and summarized with an overall percentage buy or sell rating. After each calculation the program assigns a Buy, Sell, or Hold value with the study, depending on where the price lies in reference to the common interpretation of the study.
What else should investors know about this new company that is seeking to cash in on the current SPAC boom and send CFVI stock soaring? This deal also provides Rumble with a large amount of cash proceeds. Among other things, the platform could use this platform to attract and retain more talent for its site. This, in turn, could enable it to move beyond just being the “conservative YouTube,” and become a formidable competitor to YouTube. Rumble’s connections with Trump, and his own online media SPAC deal were the main driver of its big rally back in February. These connections have also played a role in its pull back in price since then.
As part of the SPAC merger, Rumble is set to receive $400 million in cash. The amount consists of $300 million that CF Acquisition raised from its investors, and $100 million obtained through PIPE transactions. Rumble plans to invest the money to attract more creators to its platform, to expand its cloud infrastructure, and for potential acquisitions. The other big news is that the controversial content creator Andrew Tate, who had a massive following on several mainstream social media platforms, is now joining Rumble after being banned from many of those mainstream sites. Tate has become well known for his opinions on topics surrounding masculinity and comments on gender that many deem to be sexist.
- Today’s announcement is the first positive catalyst that DWAC stock has seen since its February launch.
- DWAC stock has fallen too far to come back, unless it sees a miracle.
- However, don’t base your decision to buy or not based on these connections.
- I won’t go into detail as to whether or not Elon Musk’s recent social media purchase means “game over” for Truth Social, but thinking that’s the verdict for Rumble is an overreaction.
The deal between CF Acquisition and Rumble values Rumble at a $2.2 billion enterprise value. CF Acquisition currently trades at a market cap of about $437 million and has amassed 44 million monthly average users, according to the company. I won’t go into detail as to whether or not Elon Musk’s recent social media purchase means “game over” for Truth Social, but thinking that’s the verdict for Rumble is an overreaction. In fact, it has zero impact on Rumble’s prospects, and in turn, the long-term prospects of what is for now known as CFVI stock. /PRNewswire/ — Rumble, the video-sharing platform, announced an exclusive partnership with David Freiheit, an accomplished attorney and successful content…
However, per management’s projections, based on its current level of MAUs, getting to the billion dollar mark in terms of revenue appears attainable. Once again, we witness the power of a celebrity to move a stock’s price.
Why You Shouldn’t Judge Rumble Solely on Its Trump Ties
Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services. Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. However, many post-SPAC stocks have fallen significantly after starting to trade independently, and Rumble in the first quarter of 2022 only made about $4 million of revenue and reported a loss of $3.9 million.
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If approved, Rumble can begin trading independently soon after. On the date of publication, Louis Navellier had a long position in GOOG. The InvestorPlace Research Staff member primarily responsible for this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article. Nevertheless, compared to its higher-profile counterpart, CFVI stock appears to be the stronger choice.
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