Rumble (RMBL), the alternative video platform, is going public through a $2.1 billion SPAC.
Rumble is merging with CF Acquisition Corp VI which trades under the ticker CFVI.
Rumble will collect about $400 million from the deal.
CFVI is trading up about 32% this morning on the news.
So what’s the story with Rumble?
Well, it could end up being a grand slam.
Rumble is sort of known as YouTube without the big tech censorship. And that’s given Rumble a lot of momentum for people with outside-the-lines views, particularly those on the political right.
And Rumble is growing FAST.
It had 36 million active users in Q3 2021, up from 1.6 million in Q3 2020.
People are growing sick of mainstream television news, which is giving Rumble a massive tailwind.
And already, we’re seeing some breakout stars on Rumble with sizeable follower counts:
Dan Bongino: 1.94 million followers
Donald Trump: 924K followers
Steven Crowder: 512K followers
Glenn Greenwald: 137K followers
Russell Brand: 107K followers
Obviously, many of the big channels on Rumble are associated with the political right, but that’s not a bad thing from a business standpoint. Because it makes Rumble almost a new Fox News crossed with YouTube.
And the follower numbers pale in comparison to YouTube. which has many stars with 10+ million followers, but you should think about the direction.
The big question now is will Rumble (CFVI) act like SilverBox Engaged Merger Corp (SBEA), which announced a merger with Black Rifle Coffee Company back on November 2?
If you recall, SBEA skyrocketed and then came right back down.
I’m not chasing CFVI right now because I don’t like the market overall, but it is definitely on my shopping list for dips.
And of course, we’re adding it to our list of meme stocks.