After months of anticipation, blank check company CF Acquisition Corp. VI ($CFVI) completed its business combination with the video-sharing platform “Rumble.” The combined company’s shares began trading on the NASDAQ today under the ticker symbol $RUM.
In an age where most social media platforms like YouTube have to choose between censorship and hosting a free-for-all, Rumble is stepping in as a high-growth neutral video platform. It says its goal is to create rails and independent infrastructure designed to be immune to cancel culture, hence its mission to restore the Internet to its roots by making it free and open again.
In today’s highly polarized environment, it will be interesting to see if the platform can gain enough traction to compete with the largest players in the space. 🤔
At the very least, some investors may invest in the company to support the idea of “free speech” that they think is lacking on other platforms, the same way people bought Gamestop to fight against Wall Street. They’re buying the idea, maybe not the execution (yet).
$RUM shares rose 40% on their first trading day, and one many are watching in the coming weeks. 👀
