Rumble Goes Public, Google Shits a Brick

Written By Alexander Boulden

Updated February 13, 2024

On Monday, alternative social media company Rumble went public and began trading on the Nasdaq stock exchange under the ticker symbol RUM.

It opened at $12.50 and traded above $17 for the day’s high, launching more than 40% in one day.

Now, I know what you’re thinking…

Forty percent on a stock?

In a bear market?

In a recession?

Needless to say, it got the mainstream media’s attention and everyone was covering it.

Headlines ranged from “Rumble Stock Will Be Massive” to “Rumble Will Make Millionaires.”

Rumble’s claim to fame is that it doesn’t censor content like competitors YouTube and Twitter do.

Content creators who’ve been delisted and demonetized on YouTube are flocking to Rumble in droves.

And the numbers are good.

In June 2022, Rumble had 35 million monthly active users.

Just three months later, Rumble boasted an 80% increase in active users, coming in at 63 million in the U.S. and Canada.

That’s compared with Twitter’s 68 million monthly active users.

That explosive growth led the company to raise $400 million from prominent venture capitalists, including PayPal co-founder Peter Thiel and Hillbilly Elegy author J.D. Vance.

In an interview with Fox Business, Rumble founder and CEO Chris Pavlovski said, “It’s a turning point in terms of what’s happening on the internet. Things are starting to transcend politics.”

He posted this on the company’s blog yesterday as the stock price soared:

We are for people with something to say and something to share, who believe in authentic expression, and want to control the value of their own creations. We create technologies that are immune to cancel culture. Because everyone benefits when we have access to more ideas, diverse opinions, and dialogue. Join us. We are on a mission to protect a free and open internet.

Now that Rumble’s a publicly traded company, the mainstream media are losing their minds.

According to The Verge, it’s a thorn in the side of Big Tech that isn’t going away, as the company sued Google just last year, alleging the media giant favored its own YouTube platform in search results.

The lawsuit states: "Rumble's success… has been far less than it could and should have been as a direct result of Google's unlawful, anti-competitive, exclusionary, and monopolistic behavior."

Rumble is requesting access to use Google's search algorithms.

And now that a California judge ruled that the case can move forward, everyone is wondering…

Is this the end of YouTube and censorship?

Is online freedom of speech finally going to be a reality?

Freedom Fighters

Let’s back up for just a minute to give you an idea of how this all came to fruition.

Remember when special-purpose acquisition companies (SPACs) were all the rage a couple of years ago?

Well, Rumble was in need of money in order to go public, so it decided to jump on the SPAC bandwagon.

It was taken public through CF Acquisition Corp. VI (NASDAQ: CFVI).

CF Acquisition Corp. is backed by financial services company Cantor Fitzgerald, run by billionaire businessman Howard Lutnick, who kept the company afloat after 70% of its employees were killed in the September 11 attacks.

CF Acquisition Corp. VI now trades under the ticker RUM to represent freedom.

Rumble posted this statement on its blog Monday:

While stock ticker symbols can be an afterthought, for Rumble, “RUM” holds a special connection to the company’s mission to protect a free and open market. It’s a little-known fact that rum was one of the many catalysts of the American Revolution due to unrest created by the British-imposed Sugar Act of 1764. The act imposed regulations and taxes on molasses, a key ingredient used to produce rum. During the colonial era, rum was among the most-consumed alcoholic drinks in America. Without rum, the colonists may never have fought to win the freedom that Americans enjoy today — the very freedom that Rumble exists to protect.

It’s a cool story, albeit a bit dramatic, but it’s now being called the most successful SPAC merger of the year.

Rumble has only four employees at the moment, so the business is lean.

The company created its own cloud platform, so all content stays in-house.

Pavlovski says that Rumble’s focusing on monetizing its growing audience, as well as acquiring creators and bringing more content online, including music and video games, which have been monopolized via YouTube until now.

In an effort to increase transparency and attract content creators, each video displays the amount of revenue it earns.

However, much of the content is still very political, so this may deter future users.

Betting on Growth

Rumble is truly a growth stock that doesn't rely on corrupt Big Tech companies.

The best part is that members of my premium investment newsletter Insider Stakeout knew to invest in the SPAC back in April.

Here’s what I wrote my subscribers on April 29:

There’s something strange going on in the land of information. In a world where everyone gets their content from YouTube and social media, the last decade or so has seen an erosion of truth. Not just factual truth, but life lessons as well. For proof, just look at all the conflicting information we got about the pandemic… death rates, infection statistics, etc. What’s more, modern news is designed to be panic-inducing. Even the best book won’t artificially raise your stress hormones quite the way the boob tube does. It’s not really anything new, though. It’s a tale as old as society. Controlling the flow of information is a powerful place to be. When someone obtains grand control over the flow of information, they control the people. It’s one reason Elon Musk decided to stake his claim over one of the many rivers of information and data. But like plugging one hole in a ship that has many, the water will find another way through. Musk spent $44 billion on tech giant Twitter under the guise of “promoting free speech.” I guess freedom does have a price. The importance of Musk’s move can’t be understated, and it will have profound implications on your wallet. We know it’s such a powerful move because Washington is mobilizing to cut it off. The problem is no one can control the flow of information. It’s a futile endeavor. So now, investors are betting on a slew of new media companies that are set to take over the old guard.

I then referenced that insiders had been quietly buying shares of CF Acquisition Corp. VI to the tune of $7 million.

So I issued an urgent “Buy” alert when the stock was trading around $11.73.

Rest assured, my subscribers saw a 50% spike in their accounts by Monday afternoon.

That’s the power of following the insiders.

To get more insider trades, just sign up for a risk-free trial to my investment newsletter that tracks legal insider trading like we saw with CF Acquisition Corp. VI.

Start trading alongisde the smart money today.

Stay frosty,

Alexander Boulden
Editor, Wealth Daily

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After Alexander’s passion for economics and investing drew him to one of the largest financial publishers in the world, where he rubbed elbows with former Chicago Board Options Exchange floor traders, Wall Street hedge fund managers, and International Monetary Fund analysts, he decided to take up the pen and guide others through this new age of investing.

Alexander is the investment director of Insider Stakeout — a weekly investment advisory service dedicated to tracking the smartest money on the planet so that his readers can achieve life-altering, market-beating returns. He also serves at the managing editor for R.I.C.H. Report, a comprehensive service that uses the highest-quality investment research and strategies that guides its members in growing their wealth on top of preserving it.

Check out his editor’s page here.

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