Rumble: Wait For $5

 

  • Rumble reported a strong revenue jump in Q3'22, but the revenue base is still only $11 million.
  • The 'neutral' video platform has impressive plans with new monetization products to reward content creators over time.
  • The stock valuation doesn't match the current revenue base with a market cap of $3.7 billion based on the 375 million diluted shares providing limited upside to shareholders.
  • The $5 price target remains in place as the likely path for the stock.
  • This idea was discussed in more depth with members of my private investing community, Out Fox The Street. Learn More » 
After announcing to go public via a SPAC deal last year, Rumble (NASDAQ:RUM) finally reported their first quarterly results as a public company. The results smashed estimates, but the 'neutral' video platform still remains in the early stages of development. My investment thesis remains Neutral on the stock until the business can catch up with the big valuation.

Read the full article on Seeking Alpha. 

Disclosure: No position mentioned. Please review the disclaimer page for more details. 


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