- Newsmax went public on Monday, raising $75 million from 7.5 million shares.
- The stock surged 667% in its debut, valuing Newsmax at about $8 billion.
- Newsmax’s valuation is now double that of Trump Media and a third of Fox Corp.
Newsmax is seeing wild trades in its first day as a public company.
The conservative media company went public on Monday in a mini-IPO, selling 7.5 million shares at a price of $10 each, raising $75 million.
Investors have piled into the stock.
Shares opened for trading at $14 and hit an intraday high of $76.74, representing a one-day gain of as much as 667%. Newsmax stock pared the gains to 496%, trading at $59.85 at 12:40 p.m.
Monday’s trading frenzy for Newsmax stock catapulted its valuation to about $8 billion, about double that of Trump Media & Technology Company, and about a third of Fox Corp’s valuation, which owns Fox News Media.
It’s been boom times for conservative news outlets following Trump’s election victory in November. The president is a regular guest on right-leaning channels including Newsmax, which has helped boost ratings for broadcasters. While the network lags behind right-wing news giant Fox, its popularity has risen steadily since the 2024 election.
Newsmax has come out swinging for Donald Trump in recent years, with the conservative outlet broadcasting election conspiracy theories tied to Smartmatic voting machines after the 2020 vote.
The company settled a defamation lawsuit with Smartmatic late last year.
Newsmax raised $225 million in February via a private offering of preferred shares. The company trades on the New York Stock Exchange under the ticker symbol “NMAX.”
