This Recent IPO Is Generating a lot of Buzz. Should You Buy?
Cantor Fitzgerald's special purpose acquisition company (SPAC) CF Finance Acquisition Corp VI just took video-platform Rumble (NASDAQ: RUM) public in a $2.6 billion deal that's generating plenty of buzz from investors. Investors hope this company can be Alphabet's YouTube and Amazon Web Services (AWS) rolled into one.
Wall Street is wading into the hype pool as well. For example, DA Davidson analyst Tom Forte just recommended buying Rumble stock and gave it a $15 price target, suggesting this company could be worth nearly $4 billion despite just going public at $2.6 billion.
Rumble will be a formidable company if it achieves management's goals. However, there's good reason to tap the brakes on some of the market's enthusiasm right now.
Source Fool.com
