Rumble: Don't Chase TikTok Hype
Update - Mar. 27, 2024
Rumble reported another in Q4'23. All of the new content isn't turning into usage growth. The stock likely falls back to $5. -GAAP EPS of -$0.14 beats by $0.08. - Rev. of $20.4M (+2.2% YoY) misses by $7.7M. -Avg. Minutes Watched Per Month were 10.5B, compared to 10.7B in Q3'23.
Original article posted on March 13
- Rumble Inc. surged after announcing a potential partnership with ByteDance for a cloud service, but the likelihood of such a partnership is low.
- The focus should be on Rumble's Q4 2023 results and its partnership with Barstool Sports, rather than the TikTok deal.
- Rumble has the potential for significant growth in 2024, especially with a focus on political content and the 2024 Presidential election.
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