Could Rumble Be Big Winner From Trump's FTC Commissioner Pick? 'Been An Invaluable Member Of The Rumble Team'

Chris Katje

December 12, 2024

Video platform company Rumble Inc (NASDAQ:RUM) could have reasons to smile with several announced picks of the new White House administration.

What Happened: Rumble filed several lawsuits against Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL) unit Google over the years, alleging favoritism for YouTube in search results and digital advertising practices.

While Alphabet faces a current battle with the Department of Justice, there could be more to come with several figures close to Rumble expected to be part of Donald Trump's new administration.

Trump recently announced he will nominate Andrew Ferguson to lead the Federal Trade Commission, replacing Lina Khan. Trump also announced his plan to make Mark Meador a FTC commissioner.

"Congratulations to @mrmeador on his nomination as a Commissioner on the FTC. Mark has been an invaluable member of the Rumble team, representing us in our lawsuit against GARM and our ad tech lawsuit against Google. We're thrilled for him and wish him all the best," Rumble CEO Chris Pavlovski tweeted.

Meador previously taking on Google on behalf of Rumble could be an item for Rumble investors to watch as it could set the table for further antitrust lawsuits against the search giant in the future.

The addition of Meador by Trump joins several other members of the upcoming administration that have ties to Rumble.

Vice president-elect J.D. Vance was an investor in Rumble. Department of Government Efficiency co-lead Vivek Ramaswamy was also an investor in Rumble.

Trump recently announced David Sacks will serve as the White House AI and Crypto Czar. Sacks is a current member of Rumble's oard of directors.

Rumble also has a working relationship with Trump Media & Technology Group (NASDAQ:DJT), the media company co-founded by Trump.

Read Also: Rumble Q3 Earnings: Revenue Miss, EPS Miss, Monthly Active Users Jump To 67M, Election Night ‘Broke Records’

Why It's Important: Ferguson shared his plan to "end Big Tech's vendetta" on free speech when he was announced as Trump's pick. With Rumble being a leading free speech platform, the company could end up a winner if others are targeted for leaving Rumble out of search results.

Sacks said there was a high likelihood of a breakup of Alphabet under Trump recently.

"Google should be broken up," Sacks said.

Vance also expressed support to break up Google earlier this year.

"It's time to break Google up. This matters far more than any other election integrity issue. The monopolistic control of information in our society resides with an explicitly progressive technology company," Vance tweeted.

The current FTC leadership under Khan has taken on Big Tech companies like Alphabet, Amazon.com Inc (NASDAQ:AMZN), Microsoft Corp (NASDAQ:MSFT) and Meta Platforms Inc (NASDAQ:META).

Amazon founder Jeff Bezos and Meta co-founder Mark Zuckerberg have met with Trump or are planning to meet with Trump in potential moves to position their respective companies to not being targeted by the new administration.

Adding it all up there are likely going to be several people connected to Rumble involved in Trump's new administration and the company could be a winner from their support and from potential Big Tech targets such as Google targeted for anticompetitive behavior.

RUM Price Action: Rumble stock is down 0.12% at $8.13 on Thursday versus a 52-week trading range of $3.33 to $9.19. Rumble stock is up 90% year-to-date in 2024.

Read Next:

Alphabet Stock Swings On DOJ Investigation: Analyst Says ‘GOOGL Is Worth More In Pieces Than Together’

Photo: Shutterstock

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