Newsmax Stock Soars After IPO
The newly issued shares of media organization Newsmax went through the roof yesterday – rising to $233 per share from its Monday debut of $14 per share. Newsmax stock trades on the New York Stock
Exchange under the ticker symbol NMAX. CNBC reports that the rise brought the company’s market capitalization to “nearly $30 billion – surpassing the market cap of legacy media companies like Warner Bros. Discovery and Fox Corp.” Newsmax CEO Christopher Ruddy told CNBC, “Americans for a long time have been voting with their remote controls, downloads, apps to say they want Newsmax. Now investors powerfully are buying Newsmax shares because they like us, they value us and they want us to keep growing.” See the CNBC story here.
