Ever since its proposed SPAC merger with CF Acquisition Corp. VI (CFVI) made news, Rumble Inc (NASDAQ: RUM) has been stirring talks among investors as it seeked going public. In fact, many have previously taken to social media to compare Rumble stock to the historic rise of Digital World Acquisition Corp. (NASDAQ:DWAC). With CFVI’s shareholders voting in support of the business combination, Rumble stock has been climbing investors’ watchlists as it is set to start trading on the NASDAQ today under its new ticker. Given the company’s connection with former president Trump and his social media platform – Truth Social – RUM stock is one to watch this week as it could receive additional buying activity from Trump supporters.
CFVI Stock News
Back in December of 2021, news of a SPAC deal between CFVI and Trump-associated Rumble propelled a huge spike in CFVI’s PPS. Recently, the company has taken steps to finalize this agreement by filing an S-4 registration statement form – which has already been approved by the board and is expected to close by Q2. By utilizing proceeds from the agreement, CFVI is well-positioned to attract new content creators to the Rumble and Locals platforms as well as build out Rumble’s independent infrastructure.
Rumble has become a popular site among conservatives over the last two years following the rise in criticism of existing social media platforms like Facebook and Twitter. In spite of the major decline in US and Canadian facebook users, Rumble has been seeing impressive growth in key performance metrics lately. In January, the platform recorded 27% growth that amounted to 10.8 billion minutes watched. Additionally, Rumble stock reported a daily average of 4,383 hours of uploaded videos – a 14% increase from the month before. In terms of monthly active users (MAUs), CFVI reported impressive growth of 19% that resulted in a total of 39 million MAUs.
With this in mind, CEO Chris Pavlovski highlighted the major shift occurring as “users continue to send a clear message that platforms supporting the free and open internet will be the future”. In light of its mission to restore freedom and openness on the internet, the company recently extended a 4-year $100 million offer to controversial podcast star – Joe Rogan – to leave Spotify and become Rumble’s biggest draw. In the offer, the company assured Rogan he would suffer no censorship and will have all his shows streaming on the platform.
With over 20 years of experience as a standup comedian, Rogan released many comedy specials for major platforms including Netflix. Despite this, Rogan is most known for his role as the host of popular podcast – The Joe Rogan Experience – which is currently distributed exclusively on Spotify. While he rejected Rumble’s offer, the publicity prompted a 21% increase overnight in CFVI’s PPS.
Another reason driving CFVI’s momentum is Trump’s Truth Social and its association with the company. TRUTH Social is a social media platform designed with the same goal to “create a media powerhouse to rival the liberal media consortium and fight back against the big tech companies of Silicon Valley”. Even though Truth Social was supposed to launch on February 21st, Trump Media and Technology Group’s CEO – Devin Nunes – announced a delay in the application and teased its projected launch date on March 31st.
To prepare for this, Trump’s nascent media parent company – Trump Media and Technology Group (TMTG) – released the beta version of its Truth Social app on February 16th. The launch is already stirring talks among investors with the former president increasingly active on his own account.
In light of Trump’s massive fanbase of conservatives, a Truth Social-Rumble partnership might entice investors and drive a vast increase in shareholder revenue. This partnership will position Rumble to deliver all video, cloud, and streaming services for Truth Social – leaving many investors bullish CFVI could be one among the rising social media stocks as it becomes Rumble stock.
*Updated September 7th
As the merger with Rumble appears to be on track to close, investors are anticipating the results of the vote on the business combination during a shareholders’ meeting on September 15. Following the closing of the merger, Rumble stock will trade on the NASDAQ under the ticker symbols (RUM) and (RUMBW). Meanwhile, the closing of the merger could position Rumble for significant growth as the social media company is set to receive $400 million. Through these funds, Rumble intends to continue attracting new content creators to its platforms, continue building its independent infrastructure, marketing its platforms, and explore acquisition opportunities to facilitate further growth. Considering that Rumble’s user base is already growing at a rapid pace, many investors are bullish CFVI stock could be a bargain at its current PPS if the deal is approved as expected.
On that note, Rumble reported that its user base reached new highs in Q2. During this period, Rumble’s monthly active users (MAU) increased to 44 million which represents a 76% increase compared to the same period a year ago. Moreover, Rumble’s users uploaded a record 8949 video hours per day – growing 283% compared to Q2 2021. In addition, user engagement increased significantly as Rumble users watched an average of 8.1 billion minutes per month.
Continuing with its impressive growth, Rumble shared that it reached a new user base record in August as the platform’s global MAU increased to 78 million – a 77% increase YOY. Moreover, Rumble reported a new record for MAUs in the US and Canada which increased to 63 million. However, the most promising result is the growth in the platform’s Gen-Z user base. If the platform is able to continue penetrating this substantial segment, Rumble’s platform could become one of the major platforms in the social media niche. In light of these growing metrics, Rumble stock could be one to hold onto for the long-term as the company is proving its ability to compete with other established social media platforms.
Looking to continue growing at the same trajectory, Rumble has been actively adding well-known content creators to attract their followers to the platform. Although the company previously failed to add Joe Rogan, Rumble entered into an exclusive partnership with David Freiheit. With more than 540 thousand YouTube subscribers, Freiheit’s addition could help Rumble grow its user base if it manages to attract a significant portion of Freiheit’s subscribers. This deal also includes an average of four exclusive live streams per week which could help drive more users to Rumble’s platforms.
Meanwhile, Rumble has been working to create its independent infrastructure and recently launched the beta version of Rumble Ads which will be open to all verified businesses. This version will allow advertisers access a portion of Rumble’s user traffic, create campaigns, and view analytics. In this way, Rumble is laying the groundwork to compete with other services like Google AdSense and Ad Exchange. While the platform is now available for display advertisements, Rumble expects to add video and native advertisements in the coming quarter. By building its own infrastructure, Rumble could emerge as a major competitor to other social media platforms which could reflect on Rumble stock’s price.
On that note, it is worth noting that Trump’s social media platform – Truth Social – became the first publisher on Rumble’s ad platform to serve advertisements on its platform. In this way, advertisers can access and bid on Truth Social traffic in addition to Rumble’s traffic on the ad platform. With this in mind, a major catalyst for CFVI stock is Rumble’s relationship with Truth Social and former president Trump. Previously, Truth Social migrated its website and mobile application to Rumble’s cloud infrastructure. This migration enabled Truth Social to scale on a cloud platform consistent with its views of being cancel-culture-free.
In light of this relationship, Rumble stock has the potential to capitalize on the reported failure of Truth Social’s SPAC merger with DWAC after the SPAC failed to secure enough shareholders to support an extension to complete the deal. The deal has already been in jeopardy since the SEC, FINRA, and federal prosecutors have been investigating the deal with the SEC currently reviewing the deal’s disclosures. With the outcome of the vote expected to be announced on September 6, the SPAC is expected to liquidate on September 8. For this reason, CFVI stock could be well-positioned to witness an influx of new investors from DWAC which could send CFVI soaring if high volume is present. Based on this, Rumble stock is one to watch this week in anticipation of more updates from DWAC.
*Updated September 19th
After months of anticipation, Rumble’s SPAC merger with CFVI was approved by the latter’s shareholders in its shareholders’ meeting. By approving this business combination, Rumble is set to start trading on the NASDAQ under the ticker symbol (RUM) today. Meanwhile, Rumble has retained almost all of its cash in trust as only .1% of CFVI’s shares were redeemed upon the vote. Considering the company’s political affiliation with former president Trump, RUM stock could be well-positioned to soar once market opens as it could attract many Trump supporters to the stock. For this reason, Rumble stock could witness a similar run to DWAC’s run to $97 last March.
@DavinciOTC is bullish RUM stock could reach similar highs to DWAC stock.
@SPACpicks is watching RUM stock for a potential squeeze.
CFVI Stock Forecast
With anticipation over the business combination finally over, Rumble stock is landing on investors’ radars as it is set to start trading on NASDAQ today with its new ticker. With this in mind, many investors expect RUM to soar today as the stock could attract more new investors especially Trump supporters. On that note, Rumble stock is shaping up to be one of the best social media stocks in light of its focus on the conservative population and its relationship with Trump’s Truth Social.
With that in mind, the Rumble-Truth Social partnership is already looking promising with Truth Social using Rumble’s own infrastructure. For this reason, Rumble could be in a prime position to attract more users from Truth Social to its platforms – creating synergies between both platforms.
Meanwhile, Rumble appears to be positioning itself to compete with established social media platforms as it continues to show positive results regarding its users and engagement on the platform. With the company continuing to strike exclusive partnerships with well-known content creators, Rumble stock could be one to hold onto for the long-term in anticipation of more growth to the platform.
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