CF Acquisition Corp VI Stock News and Forecast: Where next for Joe Rogan?

CFVI shares up another 8% on Tuesday as the Joe Rogan debate rages.
CFVI shares have risen from $12.50 to $18 in the last week.
CFVI stock is one of the most mentioned across social media platforms.

Ivan Brian FXStreet

CF Acquisition Corp VI (CFVI) shares once again are one of the most discussed stocks on mainstream and social media as the debate over Joe Rogan rumbles on. The shares closed up another 8% on Tuesday, adding to the 18% gain from Monday.

To recap, CF Acquisition Corp VI is a blank check company that is due to take Rumble public via a spac deal later this year. Rumble is a video-sharing social media app that has seen its popularity explode during lockdown. It is described as having a conservative outlook, and it does have an agreement of sorts in place with Truth Social, former President Trump's latest venture.

CF Acquisition Corp VI Stock News

The move on Tuesday, while impressive, failed to reach the highs above $18.50 set on Monday. Could this be a sign of slowing momentum? That is always the case with these price explosions. Knowing when to get out is key. The price spike was caused by Rumble offering Joe Rogan $100 million over four years to bring his show from Spotify (SPOT) to Rumble. Rumble promises no censorship for Joe Rogan.

This has been the crux of the recent issue with Spotify. Joe Rogan has been accused of airing anti-vaccine information on his podcast, which led to Neil Young and other artists taking their music down from Spotify. The news took a fresh twist yesterday when Neil Young told Spotify employees they should leave the company as Daniel Ek, Spotify's CEO, is the main problem.

“Get out of that place before it eats up your soul. The only goals stated by Ek are numbers, not art, not creativity," Young said.

Ek had previously apologized to Spotify employees, saying, “While I strongly condemn what Joe has said and I agree with his decision to remove past episodes from our platform, I realise some will want more. [...] And I want to make one point very clear – I do not believe that silencing Joe is the answer.”

CF Acquisition Corp VI Stock Forecast

Again this is not really a technical picture. This is momentum trading, so the key is to know when it is fading and get out. Indicators for momentum would be price and volume, which are both slowing in growth for CFVI. Also social media mentions are falling, so this may indicate that the price explosion is ending.

CFVI chart, daily

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Author

Ivan Brian

FXStreet

Ivan Brian started his career with AIB Bank in corporate finance and then worked for seven years at Baxter. He started as a macro analyst before becoming Head of Research and then CFO.

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