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Tuesday, May 17, 2022

CF Acquisition Corp. VI (CFVI) Stock Surging in Aftermarket, Here’s the Reason

CF Acquisition Corp. VI (CFVI), a company that focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination, has surged 16.16% in aftermarket trading session. As a result, CFVI stock is changing hands at $13.08 at the time of the writing. The reason for the surge is the announcement by Trump Media & Technology Group to partner with Rumble. Rumble recently announced the execution of a definitive business agreement with CFVI. On Tuesday, the stock closed the day at 11.26 after declining 3.76% during the regular trading session. Let’s discuss some recent developments related to the stock.

Q3 2021 Operational Results

On 15th November, CFVI released the operational results for the third quarter of the fiscal year 2021. The quarter ended on 30th September. The general and administrative expenses for the period were $0.58 million. The company suffered a loss of $0.67 million from operations against $938 for the same period of 2020. The net income generated by the company during the three months stood at $0.86 million against the net loss of $938 for the same period of 2020.


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CFVI 9MFY2021 Operational Results

CFVI also released the operational results for the nine months ended on 30th September. The company bore general and administrative expenses of $1.05 million during the quarter against $1,297 for the same period of 2020. The loss from operations during the period was $1.2 million against $1,297 for the same period of 2020. The net loss bore by the company during the nine months was $0.5 million against $1,297 for the same period of 2020.

Executive Commentary

Howard W. Lutnick, Chief Executive Officer of CFVI, while commenting on the results said that being an emerging growth company, CFVI has performed tremendously in the quarter. He believed that the future is shaping up nicely for the company and the company is expected to surpass some breakthrough challenges soon.

Future Outlook for CFVI

During the last three months, CFVI stock has surged more than 15%. Looking ahead, the stock appears to be in a good shape to attract potential investors in the upcoming months. Hence, potential investors should keep a close eye on the stock.

 

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