Newsmax Stock Surges Over 500% in NYSE Debut

The conservative media outlet raised $75 million in its IPO, marking a rare public offering for a TV network as it strengthens its position in the center-right market.

Newsmax shares soared over 500% on their first day of trading, opening at $10 and climbing to $61 per share during volatile trading.
The company raised $75 million through the sale of 7.5 million shares of Class B common stock, making it a standout example of a pure-play TV network going public.
CEO Christopher Ruddy emphasized Newsmax's mission to provide independent conservative news and compete with Fox News in the center-right media space.
Newsmax has grown to become the fourth most-watched cable news channel in the U.S., operating multiple platforms including Newsmax2 and the streaming service Newsmax+.
The IPO follows recent legal and financial milestones for the company, including a $40 million settlement with Smartmatic and a resolved licensing dispute with DirecTV.