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3w ago

Newsmax Stock Soars Over 500% in Volatile NYSE Debut

The conservative media company raised $75 million in its IPO, reaching a valuation of $8 billion as investor enthusiasm drove unprecedented trading activity.

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A banner for Newsmax Inc. is displayed during the company’s IPO at the New York Stock Exchange (NYSE) in New York City, U.S., March 31, 2025. REUTERS/Brendan McDermid/File Photo
A Newsmax booth broadcasts as attendees try out the guns on display at the National Rifle Association (NRA) annual convention in Houston, Texas, on May 29, 2022.

Overview

  • Newsmax's stock surged over 500% on its first day of trading, with shares reaching an intraday high of $76.74 before stabilizing around $62.
  • The company raised $75 million by selling 7.5 million Class B shares at $10 each, marking a rare pure-play TV network IPO in the U.S. in recent decades.
  • Trading was halted multiple times due to volatility, with the company's valuation reaching approximately $8 billion by midday.
  • Newsmax, the fourth most-watched cable news channel in the U.S., has expanded its offerings to include streaming services, a subscription platform, and podcasts.
  • Founder and CEO Christopher Ruddy emphasized Newsmax's position as a competitor to Fox News in the 'center-right market,' citing its growing audience and diversified media strategy.