Newsmax Stock Bounces in Thursday Trading

Newsmax (

NMAX

) shares bounced Thursday, turning positive after first extending their retreat from post-IPO highs.

The
self-described
conservative media company
went public Monday
, kicking off a whirlwind week of trading. The shares recently traded up about 9% off Wednesday’s close at around $57, climbing recently off morning lows that saw them in the red at around $40.

Despite falling steeply from Tuesday highs around $265, the stock is still substantially higher than its IPO price, $10, and the $14 at which it began trading on Monday.

Today’s action follows an event at the New York Stock Exhange in which CEO Chris Ruddy rang the opening bell.

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