- The stock price of Rumble (RUM) surged by over 35% in its market debut today. These are some details you should know.
The stock price of Rumble (RUM) surged by over 35% in its market debut today. The video sharing platform company successfully completed its business combination with blank check company CF Acquisition Corp. VI (NASDAQ: CFVI), trading of Rumble’s common shares will begin on the NASDAQ stock exchange today. At the market open, the ticker symbol will switch from “CFVI” to “RUM” for the company’s common shares.
Rumble also selected the ticker symbol “RUM” for another reason. The company said that “RUM” holds a special connection to the company’s mission to protect a free and open internet. And it’s a little-known fact that rum was one of the many catalysts of the American Revolution due to unrest created by the British-imposed Sugar Act of 1764. The Act imposed regulations and taxes on molasses, a key ingredient used to produce rum. During the colonial era, rum was known as the most-consumed alcoholic drinks in America. Without rum, the colonists may never have fought to win the freedom that Americans enjoy today – which is “the very freedom that Rumble exists to protect.”
KEY QUOTE:
“As a mission-driven company, we do everything with a purpose. As we considered available tickers, the history of rum as a symbol of freedom was the perfect match for Rumble.”
— Rumble Chairman and CEO Chris Pavlovski
