Newsmax stock surges
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Insider |
The right-wing cable channel's market value exceeded $20 billion.
Wall Street Journal |
Shares of the media company surged 570% by midday Monday to $67 a share.
BBC |
Analysts said retail investors drove gains, drawing comparisons to the soaring price of GameStop.
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A small, conservative media company with limited revenue just went public.At the moment, it's worth many billions of dollars.Is that sustainable? Ask investors who bought shares in Donald Trump's media company a year ago.
By Zaheer Kachwala, Medha Singh and Suzanne McGee (Reuters) -Shares of conservative news outlet Newsmax soared another 180% on Tuesday, extending their eye-popping gains a day after a stellar debut on the New York Stock Exchange.
Conservative cable network Newsmax (NYSE:NMAX) exploded onto the public markets on Monday, closing at $83.51—up a staggering 735% from its $10
A little-known investment bank called Digital Offering was behind Newsmax's public stock offering. An exec explains how the firm won the deal.
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Bloomberg journalists discuss today's biggest winners and losers in the stock market. Listen for analysis on the companies making news on Wall Street.
Shares of Newsmax skyrocketed again on Tuesday, as trading in the conservative news outlet’s stock was halted again for volatility multiple times throughout the day, more than doubling the company’s market cap to above $22 billion after a massive debut yesterday.
Chris Ruddy, a rightwing media mogul and longtime friend of Donald Trump, has become a multibillionaire after Newsmax shares continued to surge following its public listing debut on Monday — an unlikely outcome for a lossmaking cable television channel.
Is Newsmax overvalued? I don't give investment advice, but I could give lots of reasons why investors should be wary.