Rumble Inc.Corto
Peak Silly
Actualizado
The only purpose of this SPAC is to legally steal money away from shareholders. After 15 minutes of reading I found some pretty abhorred stuff. The dilution will be epic.
Here are the highlights:
"As of September 30, 2023 our cash, cash equivalents, and marketable securities balance was $267.0 million..., we expect our strategy will require us to consume a significant portion of our capital raised. As of September 30, 2023, we had entered into programming and content agreements with a minimum contractual cash commitment of $123 million"
"The Company is authorized to issue 1,000,000,000 shares".
THERE IS ONLY 112 THOUSAND SHARES CURRENTLY OUSTANDING and an additional 168k locked up (implied shares outstanding 280k)
On top of the extreme dilution, revenues don't even cover the cost to host the site!
Currently valued in the billions I believe this will be sub 500 million after dilution.
Using leap puts to short. The premium is high but despite the expensive premium I believe this is an easy 30% at expiration and potentially much more
Here are the highlights:
"As of September 30, 2023 our cash, cash equivalents, and marketable securities balance was $267.0 million..., we expect our strategy will require us to consume a significant portion of our capital raised. As of September 30, 2023, we had entered into programming and content agreements with a minimum contractual cash commitment of $123 million"
"The Company is authorized to issue 1,000,000,000 shares".
THERE IS ONLY 112 THOUSAND SHARES CURRENTLY OUSTANDING and an additional 168k locked up (implied shares outstanding 280k)
On top of the extreme dilution, revenues don't even cover the cost to host the site!
Currently valued in the billions I believe this will be sub 500 million after dilution.
Using leap puts to short. The premium is high but despite the expensive premium I believe this is an easy 30% at expiration and potentially much more
Nota
I cant believe I left this out. All that and it trades at ~20x salesNota
Now the chart is starting to look sickly? Almost time to addNota
I'm adding below the YTD anchored VWAP.
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