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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.

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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.

Rumble Inc. (NASDAQ:RUM) has been on a tear since announcing a partnership with Barstool Sports back in January. The video platform has longed announced big content partnerships, but the company has paid aggressively to acquire talent, leading to mixed financial results. My investment thesis is more Neutral on the stock after the surge to $8 based on some hype surrounding a potential TikTok forced divestment.

Read the full article on Seeking Alpha. 

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


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