Newsmax stock (NMAX) soared as high as 132% Tuesday, extending its massive 735% gain on Monday following the conservative cable news outlet’s IPO. Newsmax raised $75 million in its IPO Friday, with shares priced at $10.

Newsmax Inc.'s 17x surge defies fundamentals and faces profitability challenges. Here's why experts urge caution on highly speculative NMAX stock.

Newsmax stock soared 180% Tuesday, extending its massive 735% gain on Monday following the conservative cable news outlet’s IPO.

Newsmax IPO saw its stock surge 700% on its NYSE debut, with shares closing at $82.25. The news company is a strong competitor to Fox News.

Newsmax is being sued for defamation by Dominion Voting Systems — the same company that sued Fox News over false 2020 election-fraud claims and walked away with a nearly $800 million settlement.

Newsmax, the conservative news outlet, saw its shares hike over 500% in early trading on its first day on the New York Stock Exchange

In September, Newsmax announced plans to go public in early 2025. However, in a swift turn of events, the company raised $75 million through the sale of 7.5 million shares of its Class B common stock at $10 per share. By Tuesday, Newsmax’s market capitalization had skyrocketed to an astounding $16.7 billion, with shares trading around $130 midday.

Newsmax surged for a second straight day following its stellar debut. But investors must be careful. The fun may not last.