Posted on 04/01/2025 6:25:40 AM PDT by SunkenCiv
Shares of conservative news outlet Newsmax (NMAX.N), opens new tab soared more than 27% before the bell on Tuesday, extending their gains a day after a stunning debut on the New York Stock Exchange.
The stock traded at $106, more than 10 times the IPO price of $10, valuing the cable news network at $12.8 billion.
Newsmax's shares closed with a more-than-eight-fold gain at $83.51 on Monday, partly buoyed by retail interest. The stock remained the top trending ticker on retail investor-focused social media stocktwits.com.
The cable news operator, which raised $75 million in its "mini IPO" last week, is looking to expand its reach following President Donald Trump's return to the White House earlier this year.
"It's probably a perfect time for Newsmax to launch, simply because of all the volatility in the political arena currently," said Peter Andersen, founder of Andersen Capital Management.
"This was a demonstration that there are more conservative investors than probably the market had anticipated," he said.
Stocks such as video sharing platform Rumble (RUM.O), opens new tab and Trump Media & Technology Group (DJT.O), opens new tab rallied in the run-up to the presidential election last year as investors banked on Trump's victory.
With $22.1 million worth of Newsmax shares changing hands by 7:40 a.m. ET, turnover was more than that of Broadcom (AVGO.O), opens new tab and GameStop (GME.N), opens new tab combined.
(Excerpt) Read more at reuters.com ...
as an aside, I've mostly given up on the Schwab Network, which started strong, but as feared, has turned into a bash-Trump festival. Found out about the Newsmax debut when a CNBC clip showed up in the Roku YouTube app this morning.
Someday I'd like to be on the list for an IPO. Or more specifically, one like this.
I haven’t watched Newsmax since that hairdo homo treated Lindell so bad.
They had a publicly-announced subscription that ran for a number of months, then a pre-IPO offering that ran for about a month. Messed up in setting my limit orders, and ended up with a tiny number of shares. Still I’ve made 800% in one day. I’d say a very large number of people got rich yesterday
Newsmax is loaded with never Trumpers it’s just slightly better than FNC.
I watch Sean and Emma in the morning and Rob Schmitt and Rob Finnerty at dinnertime. They aren’t never-Trumpers.
i also stopped watching them
only REAL AMERICAS VOICE on my tv now.
Still I’ve made 800% in one day.
\/
well at least they were good for something.
that is good news and i am glad to hear that.
Since they “gave” $1 million to the Clinton Foundation I have absolutely no use for them.
Newsmax is loaded with never Trumpers it’s just slightly better than FNC.
Bologna....
Wonder what they’re gonna do with all the money - buy CNN?
Nice job! :^)
Apropos of nothing, April 2 will be the day of the Switch 2 rollout:
https://www.google.com/search?q=TYO%3A7974
https://www.google.com/search?q=NTDOF
https://www.google.com/search?q=NTDOY (the ADR)
???
From the “Nothing goes straight up, except Elon’s rockets” Dept:
My timing on IPOs is usually late, but my timing on shorting them, after the honeymoon, has been stellar.
What goes up, usually comes down.
I’ll pass.
Perhaps loaded is an exaggeration. They do have Never Trumpers
Have had initial stock in 2 IPOs. I’m still working for a living
They do have Never Trumpers
Yeah, Napalitano. And, since he likes weiners, I never pay much heed.
Judge Nap is deep state hack awful
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