Why Shares of Newsmax Are Rising Today
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Shares of Newsmax rose nearly 8% following the announcement of a $1.2 billion standby equity purchase agreement with Yorkville Advisors. The company, which went public with a $75 million IPO, has seen its stock price increase significantly, attributed to a limited number of shares and support for Donald Trump. The SEPA allows Yorkville to purchase class B shares over 24 months, providing Newsmax with liquidity and flexibility for future opportunities. However, the stock is still considered a meme stock with a high valuation and no profitability, leading to caution for potential investors.
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