Positioning no disclosures inside 60 days, left as found
Options put/call open interest 1.06, read 2026-10-23
Ethical does not pass the values gate
Price5.64 USD
Fair value15.28
Ethical score70.0/100
Our investment reviews on this name
2026-10-15Read Markdown6.96-19.0% to today ✓Distribution gives way to Markdown after a 9% slide in 13 days
2026-10-02Read Distribution7.64-26.2% to today ✓Markup gives way to Distribution after a 7% rise in 3 weeks
2026-09-12Read Markup7.17-21.3% to today Distribution gives way to Markup after a 12% rise in 4 weeks
2026-08-12Read Distribution6.39-11.7% to today ✓Markup gives way to Distribution after an 11% slide in 6 weeks
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Rumble Inc. holds its Markdown at $5.64. Consolidating, no directional conviction, held for 48 days.
As held on the ledger · 2026-10-23
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 48 days
Price at the screen
$5.64
Valuation
N/A trailing · -8.33 forward price to earnings
Values screen
FAIL· score 70.0
Beta
1.26
The Workings
Five Screens, Shown in Full
Does not pass. Accounts receivable
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
0.57%
Below 33%
Interest-bearing debt is just 0.6% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
74.15%
Below 49%
Money owed to the company is 74.2% of assets, above the 49% limit.
Fail
Revenue purity
10.35%
Below 5%
10.4% of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Rumble's business is fine, but its receivables are about 74% of its assets, well over the ~49% line, so it does not pass on the financial screens.
Read as at 2026-10-27. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when RUM's ethical verdict changes
Today RUM does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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Fair value range in USD, drawn from the 2026-10-23 screen. The gold marker is the market price at the same screen. A 100.0% margin of safety to the base estimate.
Third-party analyst targets: 2 covering, consensus Buy. The average target sits +317% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-23 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Video Site Chases Growth but Fails Ethical Test
Picture a video platform built for creators who feel shut out elsewhere. Rumble is expanding revenue at 61 percent a year, yet it still runs at a negative 135 percent profit margin and negative 18 percent return on equity. We pass because the name fails our ethical screen on accounts receivable, and that alone ends the conversation.
The forward multiple looks strange at negative 24.6 times, one analyst sets a 22 dollar target, and shares sit at 7.64 against our 15.28 fair value. None of those numbers matter once the screen flags governance issues. The moat remains unknown and the business model unproven at scale.
Risk centres on heavy ongoing losses and the chance that growth never turns into cash. An ethical fail adds a hard stop that no valuation gap can override. Analysis, not advice.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
RUM trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-22Markdown$5.83-16.2%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 16.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading oversold. Over the past year the shares are down 23%. Our forward projection puts the odds of a 10% gain over the next month near 35%. The street (1 analysts) rates it buy, with a mean price target of $22.
2026-10-15Markdown · changed$6.96-8.9%Entry 7
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 8.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are down 23%. Our forward projection puts the odds of a 10% gain over the next month near 35%. The street (1 analysts) rates it buy, with a mean price target of $22.
2026-10-02Distribution · changed$7.64+6.6%Entry 6
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 6.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are down 23%. Our forward projection puts the odds of a 10% gain over the next month near 35%. The street (1 analysts) rates it buy, with a mean price target of $22.
2026-09-12Markup · changed$7.17+12.3%Entry 5
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 12.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are down 23%. Our forward projection puts the odds of a 10% gain over the next month near 35%. The street (1 analysts) rates it buy, with a mean price target of $22.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 10.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are down 23%. Our forward projection puts the odds of a 10% gain over the next month near 35%. The street (1 analysts) rates it buy, with a mean price target of $22.
2026-07-18Markup$7.16+0.0%Entry 3
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are down 23%. Our forward projection puts the odds of a 10% gain over the next month near 35%. The street (1 analysts) rates it buy, with a mean price target of $22.
2026-07-03Markup$7.16+0.0%Entry 2
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Markup$7.16Entry 1
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
