Newsmax Stock Has Soared 2,200% In Its First 2 Days Of Trading
Key Takeaways
Newsmax (
NMAX
) stock surged again on Tuesday after skyrocketing Monday, its first day of trading.
Shares of the conservative news channel nearly tripled to close at $232 on Tuesday, putting the stock, which debuted on the New York Stock Exchange on Monday morning, more than 2,200% above its $10
IPO price
.
Shares soared 735% from the IPO pricing Monday, the best first-day performance of any U.S.
stock listing
since an obscure Chinese garment manufacturer, Addentax Group (
ATXG
), debuted at $5 a share in August 2022 and skyrocketed 13,000% on its first day, according to
Bloomberg
. Addentax’s success in the U.S. market was short-lived—shares tumbled 95% in their second day of trading, and on Tuesday were trading for about 88 cents.
Tuesday’s closing price valued Newsmax at more than $29 billion, which makes it larger than nearly two-fifths of the
S&P 500
. It is, however, ineligible to enter the
benchmark index
, which requires companies to be profitable. Newsmax in 2024 booked a
net loss
of $72 million on $171 million in revenue.
Newsmax Debut Success Counters Recent IPO Trends
Newsmax’s
blockbuster debut
flies in the face of recent IPO trends, which have mostly disappointed Wall Street. Nvidia-backed cloud computing company CoreWeave (
CRWV
) last week
finished its first trading day at $40
—its exact IPO price, which was itself
below expectations
. The stock then
slumped in its second session
on Monday.
Investors were hoping for an IPO renaissance this quarter after several years of sluggish activity. Recent market turbulence, however, has complicated the IPO outlook—weighing on recent debuts like CoreWeave and
liquefied natural gas
producer Venture Global (
VG
).
Nonetheless, some companies are planning to brave the turmoil, including
buy now, pay later giant Klarna
,
ticket reseller StubHub
, and
online trading platform eToro
, all of which filed IPO paperwork last month.
Update—April 1, 2025: This story has been updated with NewsMax’s closing share price on Tuesday.
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