Shares of Rumble (NASDAQ: RUM) -- a video platform seen as a censorship-proof alternative to YouTube -- plunged on Wednesday after the company filed a registration document with the Securities and Exchange Commission (SEC). As of 1 p.m. ET, Rumble stock was down 10%.

Rumble officially went public on Sept. 16 when it completed its business combination with a special purpose acquisition company (SPAC). At the time, not much was known about the company's financials. However, with today's filing investors now know Rumble generated just $8.4 million in revenue in the first half of 2022 and racked up an $8.6 million loss from operations during that time. That's meager revenue for a company valued at $2.6 billion at the time it went public.

When Rumble officially went public last month, there were about 280 million shares outstanding. However, investors are understandably confused about the purpose of today's registration filing. Rumble's social media team issued a statement this morning saying the company is not raising new money or changing lockup agreements with today's registration statement, which is important to note. 

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Source Fool.com