<p><strong>Newsmax</strong>（NMAX -5.06%），这只在四月初刚刚上市后迅速上涨的媒体股票，随后又大幅下跌，接下来的一个月继续降温。在五月，公司的股价几乎下跌了 21%，主要是因为公司在月底时发布的公告。</p>
<h2>感觉像是清仓大甩卖</h2>
<p>在五月的最后一个星期四，Newsmax 透露，证券交易委员会（SEC）已批准一组股东可能进行的大规模出售其 B 类普通股的计划。该公司实际上解锁了近 1.213 亿股这些股票，持有者包括相当长的一名单独和机构投资者。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjA1MTYvc21hbGwtZmFtaWx5LXNlYXRlZC1hdC1hLXNvZmEtYW5kLXdhdGNoaW5nLXR2LmpwZyZ3PTcwMA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjA1MTYvc21hbGwtZmFtaWx5LXNlYXRlZC1hdC1hLXNvZmEtYW5kLXdhdGNoaW5nLXR2LmpwZyZ3PTcwMA"/></p>
<p>图片来源：Getty Images。</p>
<p>B 类普通股是该公司在 <strong>纳斯达克</strong> 交易的股票，可能变更的股份数量远远超过当前流通的股份数量（根据 Yahoo! Finance 的数据为 8960 万股）。即使释放的总量中只有相对小的一部分被出售，其影响也可能极具稀释性。</p>
<p>股东稀释是任何投资者的主要担忧，尤其是对那些投资于相对新股票的投资者。Newsmax 在市场上的生命非常短暂，于 3 月 31 日首次在纳斯达克上市，正值公司首次公开募股（IPO）之后。</p>
<h2>投资者放大了负面情绪</h2>
<p>如果 Newsmax 在作为上市公司首次发布的财报中没有出现显著的底线亏损，投资者可能会更加宽容。</p>
<p>其第一季度的亏损超过 1700 万美元，尽管这比 2024 年同期近 5100 万美元的亏损要小得多，但仍然是八位数的赤字。与整体收入相比，这一亏损也显得相当庞大，整体收入同比增长近 12%，达到了 4530 万美元。</p>
<p>这并不是说 Newsmax 的五月完全糟糕；其负面消息只是掩盖了业务中的积极进展。其中之一是与顶级视频流媒体平台 Hulu 签署了多年协议，让其在 Hulu+ Live TV 服务中播出，这应该有助于提升 Newsmax 的观众基础。另一个是其宣布在社交媒体平台上超过 2000 万粉丝。</p>
<p>由于 Newsmax 作为股票的生命周期还很早，许多投资者仍在判断如何最好地评估它——以及是否值得购买。考虑到波动性以及其整体业务也相对较新，我会选择观望，直到我们对其最终潜力有更清晰的了解。</p>

NMAX

<p>Newsmax 的股票在 5 月份下跌了近 21%，原因是 SEC 批准了最多 121.3 百万股 B 类股票的潜在大规模出售，这引发了对股东稀释的担忧。尽管收入增长了 12%，达到 4530 万美元，公司在首次财报中报告了超过 1700 万美元的重大亏损。积极的发展包括与 Hulu 达成的多年协议以及社交媒体粉丝超过 2000 万。由于股票的波动性和新的市场存在，投资者对其估值仍持谨慎态度</p>

<p><strong>Newsmax</strong>(NMAX -5.06%), the media stock that rocketed higher in early April just after it landed on the stock exchange and then sank, continued to cool down the following month. Across May its share price tumbled by almost 21%, mostly because of an announcement the company made as the month was winding down.</p>
<div class="lb-trans"><p><strong>Newsmax</strong>（NMAX -5.06%），这只在四月初刚刚上市后迅速上涨的媒体股票，随后又大幅下跌，接下来的一个月继续降温。在五月，公司的股价几乎下跌了 21%，主要是因为公司在月底时发布的公告。</p>
</div><h2>Feels like a fire sale</h2>
<div class="lb-trans"><h2>感觉像是清仓大甩卖</h2>
</div><p>On the final Thursday in May, Newsmax divulged that the Securities and Exchange Commission (SEC) had granted approval for a potential mass sale of its Class B common stock by a group of shareholders. The company is effectively unlocking up to nearly 121.3 million of these shares, owned by quite a long list of both individual and institutional investors.</p>
<div class="lb-trans"><p>在五月的最后一个星期四，Newsmax 透露，证券交易委员会（SEC）已批准一组股东可能进行的大规模出售其 B 类普通股的计划。该公司实际上解锁了近 1.213 亿股这些股票，持有者包括相当长的一名单独和机构投资者。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjA1MTYvc21hbGwtZmFtaWx5LXNlYXRlZC1hdC1hLXNvZmEtYW5kLXdhdGNoaW5nLXR2LmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F820516%2Fsmall-family-seated-at-a-sofa-and-watching-tv.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><p>Class B common stock is the company's equity that trades on the <strong>Nasdaq</strong>, and the number of shares that could potentially change hands is well larger than the current level of shares outstanding (89.6 million, according to data from Yahoo! Finance). Even if a relatively small portion of the released total were to be sold, the effect could be extremely dilutive.</p>
<div class="lb-trans"><p>B 类普通股是该公司在 <strong>纳斯达克</strong> 交易的股票，可能变更的股份数量远远超过当前流通的股份数量（根据 Yahoo! Finance 的数据为 8960 万股）。即使释放的总量中只有相对小的一部分被出售，其影响也可能极具稀释性。</p>
</div><p>Shareholder dilution is a major fear of any investor, particularly one that puts money into a relatively new stock. Newsmax has had a very brief life on the market, having made its debut on the Nasdaq March 31, just after the company's initial public offering (IPO).</p>
<div class="lb-trans"><p>股东稀释是任何投资者的主要担忧，尤其是对那些投资于相对新股票的投资者。Newsmax 在市场上的生命非常短暂，于 3 月 31 日首次在纳斯达克上市，正值公司首次公开募股（IPO）之后。</p>
</div><h2>Investors accentuated the negative</h2>
<div class="lb-trans"><h2>投资者放大了负面情绪</h2>
</div><p>Investors might have been more forgiving, had Newsmax not posted a significant bottom-line loss in its first earnings release as a publicly traded company.</p>
<div class="lb-trans"><p>如果 Newsmax 在作为上市公司首次发布的财报中没有出现显著的底线亏损，投资者可能会更加宽容。</p>
</div><p>Its deficit for the first quarter was over $17 million, and although that was far narrower than the nearly $51 million loss in the same period of 2024, it was still eight figures in the red. It was also chunky compared with overall revenue, which rose almost 12% year over year to $45.3 million.</p>
<div class="lb-trans"><p>其第一季度的亏损超过 1700 万美元，尽管这比 2024 年同期近 5100 万美元的亏损要小得多，但仍然是八位数的赤字。与整体收入相比，这一亏损也显得相当庞大，整体收入同比增长近 12%，达到了 4530 万美元。</p>
</div><p>This isn't to say that Newsmax's May was completely soggy; its negative news simply obscured the positive developments in the business. One was its signing of a multiyear deal to have top video streamer Hulu carry it for its Hulu+ Live TV service, which should help boost the Newsmax viewer base. Another was its announcement that it had surpassed 20 million followers across its social media sites.</p>
<div class="lb-trans"><p>这并不是说 Newsmax 的五月完全糟糕；其负面消息只是掩盖了业务中的积极进展。其中之一是与顶级视频流媒体平台 Hulu 签署了多年协议，让其在 Hulu+ Live TV 服务中播出，这应该有助于提升 Newsmax 的观众基础。另一个是其宣布在社交媒体平台上超过 2000 万粉丝。</p>
</div><p>Since Newsmax is early in its life as a stock, many investors are still judging how best to value it -- and whether it's a buy. Given the volatility and the fact that its overall business is relatively new too, I'd stay on the sidelines until we get a better idea of its ultimate potential.</p>
<div class="lb-trans"><p>由于 Newsmax 作为股票的生命周期还很早，许多投资者仍在判断如何最好地评估它——以及是否值得购买。考虑到波动性以及其整体业务也相对较新，我会选择观望，直到我们对其最终潜力有更清晰的了解。</p>
</div>

为什么 Newsmax 的股票在五月份下跌了近 21%？