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As if mounting legal cases were not enough of a threat, Trump-linked entities are now facing increased scrutiny from short-sellers, with Rumble becoming the latest target of Culper Research’s damaging attack.
We’ve been covering Digital World’s mounting woes with alacrity. After all, the SPAC is slated to merge with the Trump Media and Technology Group in a deal that would furnish much-needed cash to Trump’s Truth Social, a Twitter-like social media app.
Amid the ongoing brouhaha around Trump and his media empire, Rumble does not often feature prominently. Well, that oversight has changed today. For the benefit of those who might be unaware, Rumble and Truth Social entered into a partnership in April 2022, whereby the Canadian company would offer video-hosting services to Truth Social. Trump had called the deal a “critical backbone” for Truth Social’s infrastructure.
2) With little revenue generation ability, $RUM's promotion is premised on its claim to have grown to 80M MAUs. But based on numerous sources of independent website traffic and app data, we think this 80M number is a mirage, and $RUM overstates its user base by 66% to 108%.
— Culper (@CulperResearch) April 27, 2023
In a hard-hitting report, Culper Research has made several striking allegations today against Rumble. First, while taking aim at Rumble’s claimed figure of 80 million Monthly Active Users (MAUs), the short-seller cites “independent website traffic and app data” to conclude that the platform has overstated its user base between 66 percent and 108 percent. For instance, SimilarWeb has estimated that Rumble saw a
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