Trump spokeswoman Liz Harrington said earlier this year Trump joined Rumble in addition to his plans to launch his own social media platform. 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. Rumble does seem to have some real momentum, with 36 million active monthly users. It trades at a $462 million market cap, and CF Acquisition is valuing Rumble at a $2.1 billion enterprise value. So there may indeed be some potential upside, but any big swings linked to Trump will likely come with volatility as well, so invest with caution and keep an eye on the valuation.
You’ll want to learn about the proposed board members, while also keeping track of the transition in your account from CFVI stock to RUM stock. Anyone who’s considering holding RUM stock really ought to familiarize themselves with the new board nominees. The rest of the list includes Emmy-nominated producer Nancy Armstrong and asset manager Robert Arsov. However, at least four names are already quite familiar at Rumble. One of them is Paul Cappuccio, who has already been a director since January 2021, according to the press release. Ryan Milnes has been a director since 2013, and Ethan Fallang has been a director since May 2021.
Policy & Public Interest
No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended (the «Securities Act»). 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. While the platform does have a huge number of users, I think the jury is also still out on the sustainability of these alternative social media platforms, and the valuation is still high, so I will personally be avoiding the stock for now. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors.
On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article. 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? Mission Statement
The Community Foundation of the Virgin Islands was created to serve both donors and nonprofit organizations of the Virgin Islands that want to ensure the highest quality of life for both present and future generations. Its primary goal is to build a growing collection of permanent funds, from which the income is disbursed to institutions and programs whose purpose is to enhance the educational, physical, social, cultural and environmental well-being of the islands’ people. CFVI’s grant-making from unrestricted sources focuses on innovative programs and projects that show promise of developing into longer-term responses to the needs of children, youth and families in the Virgin Islands. CF Acquisition Corp VI (CFVI) stock is higher by 1.40% over the past week and gets a Bullish rating from InvestorsObserver Sentiment Indicator.
Rumble has positioned itself as an alternative to YouTube, emphasizing free speech. VI (CFVI -2.35%) fell nearly 11% in the final half hour of trading today for no obvious reason, other than what seems to be volatility related to the company’s link to former President Donald Trump. While that pales in comparison with YouTube’s more than 315 million active users at the end of September, Rumble has only really started to gain traction within the past year, as content creators and users find its stated commitment to free speech refreshing. Additional shares of the company could be paid out to current Rumble shareholders if the stock reaches price metrics of $15 and $17.50.
The Motley Fool owns and recommends Alphabet (A shares), Alphabet (C shares), Meta Platforms, Inc., and Twitter. Rumble has more than 36 million monthly active users, including 23 million in the U.S. The company has nearly eight billion minutes of watched video time monthly. Around 43% of uploaded videos on the platform are exclusive to Rumble.
The Motley Fool has no position in any of the stocks mentioned. Upgrade to MarketBeat All Access to add more stocks to your watchlist. Ahead of the Rumble merger, investors want to know if they should buy CFVI stock at or below $10.
- The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
- 2022 will bring the launch of Truth Social and more campaign rallies from Trump, which are likely to spur growth for both stocks.
- Between Rumble and Trump’s expected Social Truth, things should get interesting in the media business.
- While it has been a tough season for both companies, DWAC has fallen more than 40% in the last month.
- As part of the SPAC merger, Rumble is set to receive $400 million in cash.
- No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended (the «Securities Act»).
Upon the closing of the transaction, Chris Pavlovski, the Founder and Chief Executive Officer of Rumble, will retain voting control to facilitate execution of Rumble’s neutral mission on behalf of all stakeholders. Louis Navellier, who has been called “one of the most important money managers of our time,” has broken the silence in this shocking “tell all” video… exposing one of the most shocking events in our country’s history… and the one move every American needs to make today. Clearly, there are changes afoot and Rumble’s investors need to stay on top of this transition.
The transaction is subject to other customary closing conditions and is expected to close in the second quarter of 2022. DWAC has seen strong interest by investors and traders as a play on Trump and his large following. Other stocks related to the SPAC and Trump media assets have been highly volatile in market trading.
CFVI Stock News Headlines
Specifically, Rumble stands to gain roughly $400 million in gross proceeds from the reverse merger transaction. 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%. Although its come down a bit since then, the stock seems to be on its way to rising further. Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services.
CFVI is up by more than 13% within the first two hours of trading, while DWAC has fallen by almost 5%. Despite coming down a little from its spike within the first hour, CFVI is still up by more than 38% for the week. And while DWAC is in the green for the same period, its gains are less than 3%. Although DWAC rose today in premarket trading, as Wall Street’s opening bells sounded, it began to fall and hasn’t stopped since. This deal also provides Rumble with a large amount of cash proceeds.
Why Is CF Acquisition (CFVI) Stock in the Spotlight Today?
Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool owns and recommends Alphabet (A shares) and Alphabet (C shares). Rumble has created rails and independent infrastructure that are designed morning star candle to be immune to cancel culture. Rumble’s mission is to restore the internet to its roots based on freedom of expression and creativity. About RumbleRumble is a high growth neutral video distribution platform.
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Trump has been banned from Meta Platforms Inc FB Twitter Inc TWTR and YouTube, the video platform owned by Alphabet Inc GOOGGOOGL. In reality, Rumble’s success is also likely part of why Truth Social has fallen que es un pip en forex so far. The saga of the two platforms illustrates that their right-wing consumer marketplace is a zero sum game. Despite an initial spike this morning, CFVI stock has displayed turbulent performance.
A list of the names of such directors and executive officers, and information regarding their interests in the business combination and their ownership of CFVI’s securities are, or will be, contained in CFVI’s filings with the SEC. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed transaction may be obtained by reading the proxy statement/prospectus regarding the proposed transaction when it becomes available. You may obtain free copies of these documents as described in the preceding paragraph. The proposed transactions will be submitted to CFVI’s stockholders for their consideration and approval at a special meeting of stockholders. After the Registration Statement has been declared effective, CFVI will mail a definitive proxy statement / prospectus and other relevant documents to its stockholders as of the record date established for voting on the proposed transactions.
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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. An early stage company, it’s still in the process of turning its surging user base into material amounts of revenue. However, per management’s projections, based on its current level of MAUs, getting to the billion dollar mark in terms of revenue appears attainable.
More recently, news of Elon Musk’s big move into social media has likely hurt its ability to bounce back. 3 With potential to increase up to an enterprise value of $3.15 billion if stock price targets of the combined company are satisfied following closing. On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in Swing Trading Strategies the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. There is no obvious news behind the move, although the blank check company does seem to have a link to former President Donald Trump. Video platform Rumble announced a SPAC deal earlier this week.
The Trump trades have been a fascinating phenomenon to watch play out, and they are far from over. 2022 will bring the launch of Truth Social and more campaign rallies from Trump, which are likely to spur growth for both stocks. While both have been labeled “Trump trades,” only one is rising this morning.