Former President Donald J. Trump is holding a rally on Saturday, March 12, 2022, in South Carolina. Here’s two stocks that could be impacted on Monday.
What Happened: Trump's “Save America Rally” will be livestreamed on Rumble, a video platform going public via SPAC merger with CF Acquisition Corp VI (NASDAQ:CFVI).
The rally is being held at the Florence Regional Airport with doors opening at 2 p.m. EST and speakers beginning at 4 p.m. Trump is expected to speak at 7 p.m.
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Why It’s Important: Trump has 1.23 million subscribers on Rumble and has used the platform to show his rallies in different states.
Two rallies held in Texas and Arizona in January had 360,000 and 365,000 views, respectively, on Rumble.
In 2021, Trump saw several videos on Rumble generate more than 600,000 views, including two in July and one in June that had 3.3 million, 1.2 million and 1.2 million views, respectively.
Trump is one of the bigger names on the Rumble platform, which is also trying to lure Joe Rogan away from Spotify Technology SA (NYSE:SPOT).
Trump launched the Truth Social platform recently. The social media platform is part of Trump Media & Technology, which is going public via SPAC merger with Digital World Acquisition Corp (NASDAQ:DWAC).
Truth Social saw strong demand when it was rolled out publicly on Feb. 21, 2022, but also faced technology disruptions. The app is now falling down the download charts and has also faced criticism that Trump does not use it or promote it more.
The fact that Rumble is livestreaming the Trump rally and Truth Social is not involved could be viewed as a negative for Digital World Acquisition. A mention of Truth Social at the rally by Trump could also turn into a major catalyst for the platform.
The livestream on Rumble comes as Trump is banned from other social media platforms including Twitter Inc (NYSE:TWTR), where the former president had 89 million followers.
Photo: Library of Congress
