3 Hot Small-Cap Stocks to Buy: January 2024

Revenues rose 64% YoY to $18 million, missing analyst estimates of $25.4 million. Global monthly active users (MAUs) rose to 58 million, of which 40 million were in the United States and Canada. Average estimates of minutes watched per month rose 19% YoY to 10.7 billion. The company closed the quarter with $267 million in cash and cash equivalents.

  1. The shares have been on a tear since the firm recently reported that it had leased the plant to a “significant producer of metals and minerals.” Since then, the stock has jumped almost 50%.
  2. Rumble will need to turn that around to send the stock higher.
  3. Many others did lose a lot of money, but yes, they got to join, too.
  4. However, investors are understandably confused about the purpose of today’s registration filing.

Founded in 1993, The Motley Fool is a financial services company dedicated to making the world smarter, happier, and richer. The Motley Fool reaches millions of people every month through our premium investing solutions, free guidance and market analysis on Fool.com, top-rated podcasts, and non-profit The Motley Fool Foundation. The company operates rumble.com, a platform that enables video creators to host, livestream, manage, distribute, and create OTT feeds, as well as monetize their content. It also operates locals.com, a subscription-based video sharing platform. The company was founded in 2013 and is based in Longboat Key, Florida.

When Rumble officially went public last month, there were about 280 million shares outstanding. However, investors are understandably confused about the purpose of today’s registration filing. Rumble’s social media team issued a statement this morning saying the company is not raising new money or changing lockup agreements with today’s registration statement, which is important to note. That’s impressive viewership for a new platform like Rumble, but it’s a continuation of head-turning numbers from the company’s third-quarter report. For perspective, it only averaged 44 million in the previous quarter — an outstanding 61% quarter-over-quarter improvement. Rumble Inc. operates video sharing platforms in the United States, Canada, and internationally.

A few people did well trading GameStop shares and got to join this club. Many others did lose a lot of money, but yes, they got to join, too. Dan Bongino was one of several conservative media personalities highlighted in a SPAC prospectus by … [+] Rumble, a social media app that hosts content from figures like Bongino and has become popular on the right-wing internet.

Since then, RUM shares have increased by 54.1% and is now trading at $6.92. Of course, this doesn’t mean that insiders will necessarily sell once they’re able to. Rumble’s ownership structure is common among SPAC stocks, so there’s nothing out of the ordinary here today. However, this dynamic ig forex broker review is why many SPAC stocks fall hard within one year of going public. Retail investors own very little of the overall share count to begin with and there’s immense selling pressure once lockup periods expire. Rumble’s immediate opportunity is to monetize its large, fast-growing user base.

On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. Anything less than substantial growth next quarter would be good reason to second-guess a Rumble investment at this stage. Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data. “It is no surprise that the Chinese stock market is crashing after Trump’s massive primary win in Iowa,” Donald Trump Jr. told On The Money.

Trump’s Indictment Boosts Conservative Media Stocks

And I’m not saying that Rumble stock fell on Monday because Pavlovski is breaking his promise. On the contrary, investors have no idea what he did either way. To go public, Rumble intends to merge with an investment company initially created by Cantor Fitzgerald, a decades-old Wall Street bank. The deal would leave Rumble with $300 million in cash, the company said in a statement announcing the transaction on Wednesday evening. It hopes to complete the process by the second quarter of next year.

Rumble’s lock-up included more than 140 million shares held by founder and CEO Chris Pavlovski, representing 44.6% of shares outstanding, which is an unusually high percentage. We’d like to share more about how we work and what drives our day-to-day business. Toronto, Ontario–(Newsfile Corp. – Le 1 septembre/September 2023) – The common shares of Rumble Resources Inc. have been approved for listing on the CSE. In 2022, Rumble’s revenue was $39.38 million, an increase of 316.04% compared to the previous year’s $9.47 million.

RUM stock received another boost after Dave Portnoy’s Barstool Sports announced a partnership with Rumble. The partnership will make Rumble Barstool’s preferred video home for its content. Barstool will also be able to utilize Rumble Cloud as its service provider. “As a company closely linked to conservative politics, Rumble is usually impacted by any news that affects Trump,” said InvestorPlace writer Samuel O’Brient.

RUM Overview

Therefore, if Rumble is going to be a market-beating investment, it needs to grow its business. Rumble is seen as an alternative to top-dog YouTube (owned by Alphabet) for content creators looking to escape censorship. Because of this dynamic, the platform’s strongest supporters often lean to the right in U.S. politics. Shares of user-generated video platform Rumble (RUM 1.02%) fell on Wednesday. There wasn’t any news that made it fall — if anything, the news cycle has been generally positive for the company over the last few days. With an impressive $295.6 million in cash and equivalents on its balance sheet, Rumble can sustain its operations for a long time without relying on equity dilution or debt.

Rumble Reports Strong Second Quarter 2023 Results

Regarding concrete news from the company, there were two official Rumble press releases this week. First, the company launched a merchandise store on Monday, where fans of the brand could pre-order T-shirts and hats. Today, Rumble announced that YouTuber JP Sears would put his new comedy special exclusively on Locals — a platform owned by Rumble — and create a subscription-based community. But for the record, this news was announced earlier in the week by Locals. Despite its near-term challenges, Rumble’s future looks bright.

These are now registered and can be sold when lockup arrangements expire. And Rumble won’t get any more money if they choose to sell. Shares of Digital World Acquisition , the blank check firm set to take former U.S. President Donald Trump’s social media platform public, soared to their highest in 19 months on Monday after Florida G… The content strategy is working to grow revenue, which is important, but one problem is a lack of growth in users.

Is a Trump-branded social media company really worth the $2 billion that it currently fetches in market value? Are Rumble shares worth the increase that they’ve seen this morning? Rather, purchasing their stock seem more about investing in a social statement than https://traderoom.info/ a wager on future cash flows or profits. Remember, Trump’s business has neither cash nor income, and while Rumble presumably might, it hasn’t detailed that publicly. Rumble reported a Q EPS loss of 14 cents per share, missing analyst estimates by 2 cents.

Why 3M Shares Are Trading Lower By Over 12%? Here Are Other Stocks Moving In Tuesday’s Mid-Day Session

Twenty-two hedge funds owned RUM as of the third quarter, down from 24 hedge funds. Total hedge fund ownership declined by 1.68% to 2.32 million shares from 2.36 million shares. Known as a right-leaning video platform, shares of RUM stock accelerated higher after it was revealed that former President Donald Trump had won the Iowa caucuses with 51% of the total votes.

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