Many actual events and circumstances are beyond the control of Rumble. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made.
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This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements regarding Rumble’s and its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to assumptions, risks and uncertainties. These statements are based on various assumptions, whether or not identified in this press release. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by an investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions.
If you are interested in donating to an existing scholarship fund or establishing a new scholarship fund, contact CFVI at Digitonic Ltd, the owner of ValueTheMarkets.com, does not hold a position or positions in the stock(s) and/or financial instrument(s) mentioned in the above article. Kirsteen Mackay does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the above article.
While the platform 7 powerful forex risk management strategies 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. The other big news is that the controversial content creator Andrew Tate, who had a massive following on several mainstream social media platforms, is now joining Rumble after being banned from many of those mainstream sites. Tate has become well known for his opinions on topics surrounding masculinity and comments on gender that many deem to be sexist. This article does not provide any financial advice and is not a recommendation to deal in any securities or product.
The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. [1] Assumes no redemptions by CFVI’s public stockholders and prior to payment of transaction expenses and stock repurchase. Some good indicators for swing trading include moving averages, the Relative Strength Index (RSI), stochastic oscillator, ease of movement (EOM), Bollinger Bands, Fibonacci retracements, and moving average convergence divergence (MACD). Yes, volume weighted average price (VWAP) is a lagging indicator primarily because it is based on historical data.
The definitive proxy statement will be sent to all CFVI stockholders. Rumble, CFVI, and/or a successor entity of the transaction will also file other documents regarding the proposed transaction with the SEC. The transaction provides Rumble with approximately $400 million in gross proceeds, including approximately $85 million of proceeds from a PIPE financing, $15 million from a Forward Purchase Investment, and approximately $300 million of cash held in a trust account. “Today marks an amazing milestone for our company, and one that I have been looking forward to for a long time,” said Chris Pavlovski, Founder and Chief Executive Officer of Rumble.
The vote to approve the merger between CF Acquisition and Rumble is slated for Sept. 15. Shares of DWAC soared from about $10 per share to more than $94 after DWAC announced its plan to merge with Truth Social. However, regulatory scrutiny that could put the merger at risk has brought shares back to around $26 as of this writing. You will have no right to complain to the Financial Ombudsman Services or to seek compensation from the Financial Services Compensation Scheme.
Understanding the Cumulative Volume Index (CVI)
Rumble is a video-sharing platform similar to Alphabet’s (GOOG -4.08%) (GOOGL -4.02%) YouTube, and though the site is apolitical, describing itself as neutral and „immune to cancel culture,“ it has attracted some of the biggest names in conservative circles, both as content creators and financial backers. 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. The cumulative volume index is used to determine whether capital is moving in or out of an index. If the CVI is trending lower, traders might assume that a trend is losing momentum and a reversal could be around the corner.
Rumble Rogan Deal
Neither Rumble nor CFVI gives any assurance that either Rumble or CFVI will achieve its expectations. CFVI and Rumble announced on December 1, 2021, that they entered into a definitive business combination agreement. The transaction will provide approximately $400 million of proceeds at close,[1] including $100 million of proceeds from a PIPE financing and $300 million of cash held in the trust account of CFVI. The proceeds will be used to attract new content creators to the Rumble and Locals platforms, continue to build out Rumble’s independent infrastructure, expand Rumble’s teams, begin robust marketing of the platform and services, make future acquisitions, and for other general corporate purposes. This press release relates to a proposed transaction between Rumble and CFVI.
If the CVI is trending higher, traders might assume that a trend is gaining momentum and it might be time to trade alongside the trend. The cumulative volume Top publicly traded cybersecurity companies index is a breadth indicator that shows the direction of a market or index, such as the New York Stock Exchange or S&P 500 index. While its name makes it sound similar to the On-Balance-Volume indicator, the difference is that CVI only looks at the number of securities rather than looking at their volume, similar to the Advance/Decline Index. CF Acquisition is similar to the ascent of the SPAC Digital World Acquisition Corp (DWAC), which is attempting to merge with and take public Truth Social, the alternative social media platform backed by former President Donald Trump. Rumble makes money from advertising revenue and fees from licensing its videos to brands and media publishers. 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.
CFVI has earned a 2024 Platinum Seal of Transparency from Candid, a nonprofit that provides the most comprehensive data and insights about the social sector. The documents filed or that will be filed by CFVI with the SEC also may be obtained free of charge upon written request to CF Acquisition Corp. VI, 110 East 59th Street, New York, NY or via email at [email protected]. The documents filed or that will be filed by Rumble or any successor entity of the transaction with the SEC also may be obtained free of charge upon written request to Rumble USA Inc., 444 Gulf of Mexico Drive, Longboat Key, FL 34228. CFVI is a blank check company led by Chairman and Chief Executive Officer Howard W. Lutnick and sponsored by Cantor Fitzgerald. Guggenheim Securities, LLC acted as the exclusive financial advisor to Rumble.
Traders and investors should instead look at the CVI’s trend over time relative to the index’s price to interpret its meaning. The deal between CF Acquisition and Rumble values Rumble at a $2.2 billion enterprise value. CF Acquisition currently trades at a market cap of about $437 million and has amassed 44 million monthly average users, according to the company. Investors are preparing to vote on whether or not to approve CF Acquisition’s merger with the YouTube competitor Rumble. Additionally, the alternative video content platform recently added the controversial content creator and former professional kickboxer Andrew Tate.
- CFVI and Rumble announced on December 1, 2021, that they entered into a definitive business combination agreement.
- Rumble’s mission is to restore the Internet to its roots by making it free and open once again.
- 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?
- This press release relates to a proposed transaction between Rumble and CFVI.
- Such forward-looking statements include, but are not limited to, statements regarding the closing of the transaction and CFVI’s, Rumble’s, or their respective management teams’ expectations, hopes, beliefs, intentions or strategies regarding the future.
- 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.
CFVI Awards $193,300 in Scholarships to 65 Virgin Islands Students
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. When reading What is security trading the CVI, it’s important to note that the actual number doesn’t matter since it’s not normalized (it’s just a running total).
Investments may fall in value and an investor may lose some or all of their investment. As part of the SPAC merger, Rumble is set to receive $400 million in cash. The amount consists of $300 million that CF Acquisition raised from its investors, and $100 million obtained through PIPE transactions. Rumble plans to invest the money to attract more creators to its platform, to expand its cloud infrastructure, and for potential acquisitions. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended. In SPAC arrangements, investors have the right to withdraw or redeem their money before they vote on the merger.