Newsmax Shares Drop Sharply After Announcing Resale Filing For 121 Million Shares: What's Going On?
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Shares of Newsmax Inc. (NMAX) fell 18.4% to $18.21 after the company filed for the resale of up to 121 million shares of its Class B common stock, raising concerns about potential dilution. Despite a multi-year renewal agreement with Verizon Fios for continued distribution, investor focus remained on the implications of the share registration, leading to a cautious outlook on the company's capital strategy.
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Source: Benzinga The copyright of this article belongs to the original author/organization.
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