Rumble video platform (NASDAQ: RUM) increased by 8.6% after two days of decline after its first day of trading after closing a de-SPAC trade on Monday, where its shares soared 40%.
Rumble (RUM) fell 28% on Tuesday and Wednesday after the Monday jump. Thursday’s Rumble win also comes after the video platform announced that SteveWillDoIt, a comedian and video personality, had accepted to produce exclusive weekly video content on Rumble.
Rumble, led by CEO Chris Pavlovski, has attracted a lot of attention this year as an alternative YouTube platform and after announcing a deal with former President Donald Trump’s social media company and its Truth platform. Social. Trump’s media company is also going public in a deal with SPAC Digital World Acquisition (DWAC).
On Wednesday, DA Davidson analyst Tom Forte reiterated his buy rating and $15 price target on Rumble (RUM), which he launched earlier this month.
“Management told us that investors are beginning to understand the need and utility of Rumble, but may still be uncertain about how well the company is performing its business,” Forte wrote in a note Wednesday. “The company is growing exponentially in the North American region and its approximately 200 employees are driven by Rumble’s mission of success.”
Rumble, which some consider a conservative YouTube competitor, initially announced its agreement to go public via SPAC CF Acquisition Corp. VI in December.