Where to buy Rumble stock
Rumble is one of many new US social media sites like Gab and Truth Social that gained a following after former president Donald Trump was kicked off Twitter and Facebook for his handling of the January 6 storming of the Capitol. Rumble's mission is to restore the Internet to its roots by making it free and open once again. Rumble has become the favored YouTube alternative for Trump-type Republicans, claiming 78 million average monthly users in August 2022.
What is the Stock symbol for Rumble?
Rumble Stock to begin trading under ticker symbol “RUM”, a Symbol of Freedom. "'RUM' holds a special connection to the company's mission to protect a free and open internet," the statement reads. "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. Without rum, the colonists may never have fought to win the freedom that Americans enjoy today – the very freedom that Rumble exists to protect."
How can you buy Rumble stock?
Conservative social media site Rumble completed merger with SPAC. If you’re interested in adding SPACs to your portfolio, it’s possible to buy them through an online brokerage account. One of the best brokers for international trading you can choose is eToro, TD Ameritrade, Robinhood, Ally Invest and Interactive Brokers.
Is Rumble a good investment?
The theory behind Rumble (NASDAQ:RUM), a video sharing platform which is seen by many as an alternative to Alphabet's YouTube (GOOG) (GOOGL), is that it is seeing such higher growth rates as users flock to the app and upload thousands of hours of video each and every day, that it will be a multi-bagger down the line. While Youtube pays somewhere around 20% of revenue to its creators, Rumble pays about 60%. Rumble had about 44 million monthly active users in August 2021. In addition, its viewer engagement time jumped 44 times to 8 billion minutes per month in Q3, FY21. According to Rumble CEO Chris Pavlovski, Rumble hit 78 million active users in August.
Currently, Rumble is beta testing their new ad business model. Investors need to understand that Rumble's income statements going forward for the immediate future will look terrible. It takes a lot of time and expenses to monetize their business model. They are getting $383 million net cash via the merger ($100 million from new PIPE financing and $300 million from the CFVI trust account) to help pay these expected high expenses needed to grow. Investors may also expect to see very negative media comments about these financial results by those who do not want Rumble to be successful. They do not have the competition, especially from a neutral/conservative leaning platform.
Rumble is partnering with Trump Media & Technology Group (TMTG) to deliver video and streaming for Truth Social. Although Trump Media might bring tens of millions of new users to Rumble's platforms, along with intense publicity. Risks remain high, and caution is likely wise. But the partnership looks bullish for Rumble and positive for Trump Media as well, potentially helping make them profitable investments among social media stocks.
