CF Acquisition Corporation VI (NYSE:CFVI) stock, which is planning to merge with online-video site Rumble, jumped 14% yesterday. CFVI stock soared after Joe Rogan, a very well-known, and controversial, podcast host, made several favorable comments about Rumble yesterday.
A special meeting of Rumble shareholders will be held on Sept. 15 for the purpose of voting on the company’s proposed merger with CFVI. However, Rumble is urging the owners of CFVI stock to vote on the deal online or by telephone prior to 11:59 PM ET on Sept. 15.
CFVI Stock Climbs While DWAC Sinks
CF Acquisition’s rally stands in contrast to the recent tumble of Digital World Acquisition Corp, (NASDAQ:DWAC) which is planning to merge with Trump Media & Technology Group (TMTG), a media startup company that’s owned by former President Donald Trump.
DWAC stock plunged 11% yesterday after Digital World’s shareholders rejected a proposal to postpone the merger for a year. The shares have dropped 9% in the last five trading days heading into today and 27% in the last month.
TMTG operates Truth Social, an online social media platform that was founded by Trump after he was banned from Twitter (NYSE:TWTR).
Rogan’s Comments About Rumble
Commenting on Rumble during his podcast hosted by Spotify (NYSE:SPOT) yesterday, Rogan noted that Rumble is “getting bigger and bigger names.” He asserted that “if [Rumble] becomes popular enough, and they can operate the way they are doing now, with no censorship, it’s a very interesting alternative.”
Rumble has attracted American conservatives by promising to uphold “free-speech principles.” Andrew Tate, a professional kickboxer and “internet celebrity” who became famous partly due to his criticism of lockdowns during the Covid-19 pandemic, recently joined Rumble after he was banned from Instagram, YouTube and TikTok for hate speech.
In the wake of Tate’s move, and Rogan’s shout-out, Rumble became the most-downloaded app on Apple (NASDAQ:AAPL) and Alphabet’s (NASDAQ:GOOG, NASDAQ:GOOGL) respective app stores.
On the date of publication, Larry Ramer did not hold (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.
