If you follow the media world at all, there is a good chance Newsmax's initial public offering has caught your attention. How could it not? The conservative news outlet made its Wall Street debut on Monday morning,

Loyal Newsmax viewers who listened to the channel’s entreaties last year and lined up to buy $10-per-share stakes in the company are feeling pretty rich right about now. Those shares are currently worth more than $130 each.

Newsmax isn't profitable and is burning through cash. The company trades at a sky-high valuation. A surge of new shares is coming. If you're like most investors, you want a piece of that price action.