Rumble: Not Ready For Prime Time Yet
- Rumble continues to fall as investors grasp with post SPAC valuation concerns.
- The video-sharing platform is set to release Q3 results on November 14.
- The stock has more appeal around $5 after the market fully grasp quarterly revenues are only in the $5 to $6 million range.
- This idea was discussed in more depth with members of my private investing community, Out Fox The Street. Learn More »
Rumble () recently closed the SPAC deal with CF Acquisition Corp. VI to go public. The video-sharing platform has a lot of promise to open up the online video market, but the company still faces tons ofinvestment thesis
Rumble reported decent Q3 results with revenues nearly doubling expectations. The video platform only reported revenues of $11 million while listing diluted shares of 375 million placing the current market cap at ~$4 billion. Despite beating estimates, the market is still out of tune with the reality here.
- Q3 GAAP EPS of -$0.01 .
- Revenue of $10.98M (+430.4% Y/Y) .