Why Shares of Newsmax Are Up More Than 1,123% Since Its IPO
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Shares of Newsmax have surged over 1,123% since its IPO on March 31, trading at over $82 per share after starting at $10. The network, which has the fourth-largest cable news audience, is viewed as a growth stock despite a net loss of over $72 million in 2024. CEO Christopher Ruddy attributes the stock's rise to strong viewer support and investor interest, linking its popularity to the backing of Donald Trump. The current market cap stands at approximately $15.6 billion.
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