3 Reasons to Be Cautious About Newsmax Stock
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Even after crashing down to earth Wednesday, Newsmax is still valued at an extreme premium compared to Fox and the New York Times.
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Priced at $10 per share, the cable TV company closed its first day of open-market trading at $83.51 and its second at $233, after rising as high as $265. That left the stock NMAX up 2,230% in its first two days of trade on the New York Stock Exchange.
Newsmax's stock took flight immediately following its IPO, soaring as much as 2,230% by Tuesday. Yesterday, however, shares of Newsmax plummeted 77%.
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The rise follows conservative media company Newsmax's Monday public debut, which was the best-performing first day since 2022.
Conservative cable network Newsmax (NYSE:NMAX) exploded onto the public markets on Monday, closing at $83.51—up a staggering 735% from its $10
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The prompting for this column was the invitation to be present on the floor of the New York Stock Exchange on Thursday as Newsmax, the conservative cable TV network created by longtime journalist Christopher Ruddy,
Newsmax CEO and the famously sober lawyer Rudy Giuliani ring in the bell at the NYSE on April 3, 2025. Moments later the Dow dropped 1,500 points, S&P 500 lost 4%, and the Nasdaq Composite slid 5%. But it didn’t stop these brilliant capitalists from celebrating. (Michael M. Santiago/Getty Images)