- CF Acquisition Corp. VI (CFVI) pulled back from a crucial resistance level.
- Rumble is poised to grow its audience by adding new content creators.
- Investors should stay in the trade as the next share-price move could be huge.
Special purpose acquisition company CF Acquisition Corp. VI (NASDAQ:CFVI) is in the process of bringing social media business Rumble to the financial markets. It’s a good time to buy CFVI stock or add to your current position.
Rumble is considered an alternative to YouTube with a conservative lean and an emphasis on free speech. As an investor, however, it can make sense to own shares of CF Acquisition Corp. VI even irrespective of your political beliefs.
Don’t misunderstand — there’s controversy surrounding Rumble, and it’s important to be aware of this. Still, you might end up regretting sitting on the sidelines if Rumble’s user base balloons and you miss out on substantial investment returns.
|CFVI||CF Acquisition Corp. VI||$11.54|
What’s Happening With CFVI Stock?
Going back to the beginning, CF Acquisition Corp. VI disclosed its intention to reverse-merge with Rumble on Dec. 1, 2021. Since that time, CFVI stock made a run for $16 no fewer than three times.
There was a share-price rally in December of 2021, and then two more run-ups in February of 2022. So, there’s a clear-cut resistance level at $16.
As they say, however, resistance levels are meant to be broken. The next explosive price move could be just around the corner. If CFVI stock blows past $16 and $18, it’s off to the races.
What could catalyze such a price move? Some investors were hoping that popular podcaster Joe Rogan would join Rumble — and for all we know, this could still happen.
As you may recall, Rumble offered to pay up to $100 million over a four-year period for Rogan to join its video-sharing platform. Rogan turned down Rumble’s offer.
That story might have a happy ending for CFVI stockholders, though. If Rogan changes his mind and joins Rumble, that would be game-changing news for the platform.
Expanding the Roster
Not long ago, InvestorPlace contributor Will Ashworth declared that Rumble is adding some big-name content.
Presumably, Ashworth wasn’t referring to Russian state-controlled news network RT, which reportedly stated that it will begin broadcasting on Rumble.
Rather, Ashworth was talking about Rumble’s announcement that the platform has added 15 content creators with a combined total of over 20 million subscribers.
The most popular creator being added to Rumble’s roster is PsycheTruth, with slightly more than 4 million subscribers. Another notable addition is The Hillbilly Kitchen. which Ashworth says has 610,000 subscribers and “looks well produced.”
Importantly, the 15 newly added content creators aren’t all highly political. This means that Rumble could court a broader audience.
Rumble CEO Chris Pavlovski seemed to echo this idea when he said, “Rumble was always intended to be in fierce competition with other platforms, and as part of that competition, our community has demanded a wide range of content.”
Pavlovski further emphasized that Rumble is a top platform for “health, lifestyle, sports, or any other content category.” Notably, he didn’t specifically mention politics there, so maybe Rumble is moving in a less political direction.
A Breakthrough Could Be Imminent
Rumble’s possible connection with RT, the Russian state-controlled news network, might bother some investors. Others may choose not to own CFVI stock because it hosts some conservative-leaning content.
It’s perfectly fine to make your own decisions on these matters. However, if you’re focusing solely on the potential for user-base and revenue growth, Rumble could be a big winner — and shares of CF Acquisition Corp. VI are probably ready to break through $16 in the near future.
On the date of publication, David Moadel 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.