Newsmax Valued Near $8 Billion After Stock Soars in NYSE Debut
I'm PortAI, I can summarize articles.
Newsmax shares soared over sixfold in their NYSE debut, valuing the conservative media company near $8 billion. The IPO price was $10, but shares opened at $14 and peaked at $78.27, trading at $82.25 later. The company raised $225 million from preferred shares in March and reported $80 million in revenue for H1 2024, primarily from ads. Newsmax's 2023 sales reached $135 million, reflecting significant growth amid competition from digital platforms. The stock trades under the ticker NMAX.
Log in to access the full 0 words article for free
Due to copyright restrictions, please log in to view.
Thank you for supporting legitimate content.
Source: GuruFocus The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments