In This Article:
NewsMax (NMAX) stock is skyrocketing after the company went public. Market Domination host Josh Lipton and Wall Street Horizon head of corporate event research Christine Short take a closer look at the initial public offering (IPO) and the stock's climb.
To watch more expert insights and analysis on the latest market action, check out more Market Domination here.
Newsmax shares now they are skyrocketing in their trading debut here after a $75 million initial public offering. So this one is soaring, Kristen. A conservative media outlet now officially trading on the NYSE ticker, NMAX. What a move! In terms of its place in the broader competitive landscape, saw the CEO, Christopher Ruddy, telling reporters today Newsmax, he says, is actually the number four cable news channel. He said in the United States right behind CNN. But what a reaction here to this stock.
I saw that. Like you said, certainly buoyed by, you know, Trump being elected president.
Yeah, you put this up in sort of the broader Trump trade. Do you think that's getting caught up in that?
Right, it's certainly getting caught up in that, but that stat that I heard that as well, the fourth most-watched news network, would just absolutely blows my mind, and so the stock was I think halted at one point today because of its rise, but yeah, a complete different story than the CoreWeave, and you know, that story may have been flipped last year had these two debuted.
Yeah, interesting. Soaring today, and plenty of eyeballs for Newsmax.