Newsmax Stock Skyrockets Over 2,000% Since IPO, Closing Above $200 Per Share

Benzinga

Newsmax’s stock market debut has stunned Wall Street, soaring over 2,000% since Monday, according to the BBC. Shares were initially priced at $10 and closed at over $200 on Tuesday. The surge pushed the conservative media outlet’s valuation to nearly $30 billion, exceeding Fox Corp. The price spike was driven by retail investors, with analysts likening it to the GameStop meme stock craze. Newsmax was founded in 1998 and launched as a cable network in 2014, gaining popularity after being endorsed by Trump in 2020. Founder Christopher Ruddy is now worth over $9 billion.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Newsmax stock market debut has stunned Wall Street, soaring over 2,000%

00:06since Monday, according to the BBC.

00:08Shares were initially priced at $10 and closed at over $200 on Tuesday.

00:12The surge pushed the conservative media outlet's valuation to nearly $30 billion,

00:17exceeding Fox Corp.

00:18Price spike was driven by retail investors,

00:20with analysts likening it to the GameStop meme stock craze.

00:24Newsmax was founded in 1998 and launched as a cable network in 2014,

00:28hitting popularity after being endorsed by Trump in 2020.

00:31Founder Christopher Runney is now worth over $9 billion.

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