Why Shares of CF Acquisition Are Volatile Today
Shares of the blank-check company CF Acquisition Corp VI (NASDAQ: CFVI) are extremely volatile today, at one point jumping more than 30%. As of 11:36 a.m. ET, however, shares of CF Acquisition were about 4% higher.
The moves are linked to CF Acquisition's plans to merge with and take public the social media platform Rumble, which is believed to be linked to former President Donald Trump.
The deal values Rumble at an enterprise value of $2.1 billion. Rumble, which is a video platform with fewer restrictions than traditional publishing platforms like YouTube, has grown more popular among certain publishers worried about being banned from traditional platforms.
Source Fool.com
