How to buy Rumble stock
Rumble was a growing video sharing platform headquartered in Toronto, Canada. The company hopes to become a conservative-focused alternative to Alphabet's (GOOG, GOOGL) YouTube, while Truth Social (NASDAQ:DWAC) is a conservative version of Twitter (NASDAQ:TWTR). For those who are big fans of Trump, investing in Rumble also makes a lot of sense.
How can I buy Rumble stock now?
At long last, Rumble (NASDAQ:RUM) has finalized its reverse merger with CF Acquisition VI on Sept. 19. This means that CFVI stock is gone, and RUM stock is trading in its place.
Before you can do anything in the stock market, you must first pick an online brokerage. Today, most brokerage firms offer a no-commission trade and fractional shares, including big names like eToro, Ameritrade, TD Ameritrade, Robinhood, Fidelity Investments, E*Trade, Charles Schwab, Saxo Invest, Zacks Trade and Interactive Brokers. Find the stock by name or ticker symbol – RUM – and research it before deciding if it's a good investment for you.
It's tempting to try to time the market, but it's almost impossible and even the most experienced investors get it wrong. Instead, many investors choose to invest smaller amounts on a regular basis. This will give you an added benefit of something called 'pound cost averaging'.
If you’re unsure how much you can afford to invest in Rumble or don’t know what investment strategy to use, meet with a financial advisor for personalized guidance. Financial advisors are experts in analyzing where your money goes once it leaves your paycheck. Investors often overlook this holistic approach, but the rewards for working with an experienced professional can be substantial.
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Should you invest in Rumble stock?
Rumble (RUM) just completed its business combination with CF Acquisition VI. Investors should hold RUM stock if they believe in Rumble’s business model as an alternative media platform. If it can create a viable streaming platform that makes money, the current valuation will look cheap in retrospect. However, If it fails in the business mission, politics won’t save it. Its future depends on how it deploys the $400 million raised by the transaction.
With social media and censorship coming into focus the past few years, Rumble is attracting users quickly. So far, new reports are showing strong engagement from users. 44 million monthly active users in August 2021 and user engagement reached 8 billion minutes watched monthly, up 44x from Q2 2020. Rumble's growth is similar to that of TikTok.
To a degree, Rumble could be compared to Facebook and Google in their early years. Investors have seen returns of more than 600 percent from Facebook stock since its IPO in 2012. Meanwhile, Google, now trading as Alphabet, has returned about 4,000 percent since its IPO in 2004. If you could get your hands on Rumble’s privately traded stock, it may be worth considering.
Some of its creators include Dan Bongino (former Secret Service agent) who is now the investor in the platform, conservative author Dinesh D’Souza, writer John Solomon, Rep Devin Nunes, and Pro-Trump commentators Diamond and Silk.
Although Rumble is attracting new users, will they be able to sustain the success? It’s no secret former President Trump has a loyal following base. But, will he be enough to continue attracting new members. And when Social Truth launches, how will it play a role? The company has potential, but it will need to show more to be a buy for me.
Another key point to consider is the company is going public via SPAC. These types of “blank check” companies have been relatively volatile this past year as big names like DraftKings (Nasdaq: DKNG) saw their value soar, only to fade the rest of the year.
Is the Rumble stock a buy now?
Before investors go picking up shares of Rumble stock, they should do their due diligence. We recommend that you wait for at least two quarterly earnings reports to be published before considering investing. Right now, it's a high-risk investment and will likely continue to see volatile trading in the near term. However, it could make long-term investors a significant amount of money. Consequently, I urge risk-tolerant investors to buy a relatively small portion of the shares at this point and waiting for a pullback to purchase more. And, of course, risk-averse investors should not touch Rumble stock. In general, I don’t recommend your Rumble stock be greater than 20% of your entire portfolio.
Remember that how many shares of Rumble you can buy should always directly correlate with what you are willing to lose. Do not invest more than you can say goodbye to.
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