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Replace 3:30pm: Updates shares, provides Rumble response.
Video platform Rumble Inc., which went public by means of a de-SPAC deal final month, (NASDAQ:RUM) fell 16% amid a brand new quick report from The Bear Cave.
The Bear Cave quick report argues that Rumble (RUM), seen as a conservative different to YouTube, has struggled to maneuver into mainstream content material.
Rumble, run by CEO Chris Pavlovski, has gained a lot consideration this 12 months as different YouTube platform and after it introduced a take care of former President Donald Trump’s s social media firm and his platform Fact Social.
Rumble Inc. (NASDAQ:RUM) skyrocketed 40% in its first day of buying and selling on Sept. 19 after finishing a de-SPAC transaction. The shares have since dropped 55%.
Rumble (RUM) responded to the quick report in an e mail to Searching for Alpha.
“We dispute the premise of the “Bear Cave” article, whose writer didn’t contact us or carry out essentially the most fundamental analysis earlier than publishing,” Rumble stated in a press release. “Even a cursory fact-check would have destroyed the false innuendos peddled in his article”.
On Wednesday Rumble filed for a securities providing.
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