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4w ago

Newsmax Stock Surges Over 700% in Historic IPO Debut

The conservative media company achieved a $10 billion valuation on its first trading day, signaling strong investor confidence in its growth potential.

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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 display shows a Newsmax logo on the day of their IPO on the floor at the New York Stock Exchange.

Overview

  • Newsmax's stock skyrocketed over 700% on its first trading day, closing at $82.25 per share and triggering 12 trading halts due to volatility.
  • The IPO, priced at $10 per share, raised $75 million through the sale of 7.5 million Class B shares, marking a rare pure-play TV network public offering in the U.S.
  • By the end of trading, Newsmax's market capitalization exceeded $10 billion, positioning it as a significant competitor in the conservative media space.
  • CEO Christopher Ruddy, whose stake is now valued at $3.3 billion, highlighted plans to use the capital to expand programming and digital platforms.
  • Despite its financial success, Newsmax continues to face legal challenges, including a pending $1.6 billion defamation lawsuit from Dominion Voting Systems.