Newsmax, a right-wing news outlet, made its public debut on the New York Stock Exchange (NYSE) on Monday, with its stock price soaring over 700%. The company’s market cap surged to $7.3 billion, making it more valuable than some major media companies. Trading was halted 12 times during the day due to volatility.
Newsmax began trading at $14 per share and ended the day at $82.25, before continuing to rise in after-hours trading. Its initial public offering (IPO) raised $75 million, with shares selling for $10 each. The company’s strong debut is unusual for a media outlet that has established itself as a cable news network.
The surge in Newsmax’s stock price is reminiscent of other right-wing media companies, such as Trump Media and Technology Group and Rumble, which have also experienced significant volatility on their trading days. These companies’ stock prices are often linked to developments concerning President Donald Trump and his activities.
Newsmax has faced controversy in the past, including a defamation lawsuit it settled with voting technology firm Smartmatic over false claims about the 2020 presidential election. The company’s IPO is seen as a significant development for the media industry, which is shifting towards streaming services.
Source: https://www.forbes.com/sites/antoniopequenoiv/2025/03/31/newsmax-stock-skyrockets-over-700-following-ipo-causing-multiple-trading-halts