In premarket trading on Monday, shares of special purpose acquisition company CF Acquisition Corp VI rose 21% on news that it may merge with Rumble, a social media site that includes President Donald Trump as a member.
The conservative video platform also has a collaboration with another SPAC close to the former US president.
Under a separate agreement, Trump Media & Technology Group, a new company founded by the former President, will merge with SPAC Digital World Acquisition. In premarket trading, DWAC was up 6%.
Last week, CF Acquisition CEO Howard Lutnick informed a major newswire that Trump's social media site, Truth Social, is a partner.
"Rumble is used for distribution by the Trump Media Group and DWAC SPAC," he claimed. "I can confirm that they have come to an agreement."
On a non-exclusive basis, Trump Media Group is paying for Rumble's distribution.
For his suspected role in inciting the January 6 Capitol violence, both Meta-owned Facebook and his then-favorite, Twitter, have banned Trump from its services. Trump has been looking for ways to reclaim his once-dominant social media presence since then.