CFVI Stock Soars 30% as Rumble Courts Joe Rogan With Big Bucks

The defining news story of February 2022 so far has been the saga of Joe Rogan and Spotify (NYSE:SPOT). Customers, musicians and politicians have gotten in on the spat, and SPOT stock is now down 25% in the year to date. As Spotify struggles to pick up the pieces, a competitor has identified a clear market opportunity. Rumble wants Rogan to join its ranks. Although nothing is official yet, this has been good news for its blank-check partner, CF Acquisition VI (NASDAQ:CFVI). CFVI stock has been trading well so far as speculation swirls.

The Rumble (CFVI) platform displayed on a smartphone screen.
Source: Tada Images / Shutterstock.com

What’s Happening With CFVI Stock

This morning, Rumble tweeted a photo of an offer addressed to Rogan. It made clear that the platform wanted him to join its ranks — and it didn’t care about the controversy that followed him.

While SPOT stock has fallen today, CFVI stock is rising steadily. As of this writing, it is up more than 35% on the day and shows no signs of slowing down. Shares are up more than 42% for the past month.

Why It Matters

Spotify’s crisis is truly Rumble’s opportunity. The video sharing platform wants to be the YouTube that appeals to those American conservative and libertarian thinkers who applaud its anti-censorship stance. This business model has served it well so far. Not only that, it makes it the perfect platform for Rogan.

Additionally, as the letter shows, Rumble has offered to pay up $100 million over four years for Rogan.

That should give Rogan real incentive to consider the offer. Rumble is home to many conservative thinkers. Earlier this year, an endorsement from Republican Sen. Rand Paul boosted CFVI stock. The addition of Rogan, though, could push it up much further. There’s a reason that Rumble’s leaders have offered the host so much much money. They know exactly what he could do for their platform.

What It Means

As of now, Rogan has not made any statements on the offer from Rumble. The Globe and Mail reported that Rogan once commented on Rumble in a podcast, saying that he expected the platform to keep growing.

There’s plenty of reason to believe that Rumble may soon have its own Joe Rogan experience, although, exactly what kind is unclear. If the host decides to accept the offer, CFVI stock will see significant growth in the year ahead.

On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2022/02/cfvi-stock-soars-30-as-rumble-courts-joe-rogan-with-big-bucks/.

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