<p><strong>Newsmax</strong>（NMAX -5.06%），這隻在四月初剛剛上市後迅速上漲的媒體股票，隨後又大幅下跌，接下來的一個月繼續降温。在五月，公司的股價幾乎下跌了 21%，主要是因為公司在月底時發佈的公告。</p>
<h2>感覺像是清倉大甩賣</h2>
<p>在五月的最後一個星期四，Newsmax 透露，證券交易委員會（SEC）已批准一組股東可能進行的大規模出售其 B 類普通股的計劃。該公司實際上解鎖了近 1.213 億股這些股票，持有者包括相當長的一名單獨和機構投資者。</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>圖片來源：Getty Images。</p>
<p>B 類普通股是該公司在 <strong>納斯達克</strong> 交易的股票，可能變更的股份數量遠遠超過當前流通的股份數量（根據 Yahoo! Finance 的數據為 8960 萬股）。即使釋放的總量中只有相對小的一部分被出售，其影響也可能極具稀釋性。</p>
<p>股東稀釋是任何投資者的主要擔憂，尤其是對那些投資於相對新股票的投資者。Newsmax 在市場上的生命非常短暫，於 3 月 31 日首次在納斯達克上市，正值公司首次公開募股（IPO）之後。</p>
<h2>投資者放大了負面情緒</h2>
<p>如果 Newsmax 在作為上市公司首次發佈的財報中沒有出現顯著的底線虧損，投資者可能會更加寬容。</p>
<p>其第一季度的虧損超過 1700 萬美元，儘管這比 2024 年同期近 5100 萬美元的虧損要小得多，但仍然是八位數的赤字。與整體收入相比，這一虧損也顯得相當龐大，整體收入同比增長近 12%，達到了 4530 萬美元。</p>
<p>這並不是説 Newsmax 的五月完全糟糕；其負面消息只是掩蓋了業務中的積極進展。其中之一是與頂級視頻流媒體平台 Hulu 簽署了多年協議，讓其在 Hulu+ Live TV 服務中播出，這應該有助於提升 Newsmax 的觀眾基礎。另一個是其宣佈在社交媒體平台上超過 2000 萬粉絲。</p>
<p>由於 Newsmax 作為股票的生命週期還很早，許多投資者仍在判斷如何最好地評估它——以及是否值得購買。考慮到波動性以及其整體業務也相對較新，我會選擇觀望，直到我們對其最終潛力有更清晰的瞭解。</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 百萬股 B 類股票的潛在大規模出售，這引發了對股東稀釋的擔憂。儘管收入增長了 12%，達到 4530 萬美元，公司在首次財報中報告了超過 1700 萬美元的重大虧損。積極的發展包括與 Hulu 達成的多年協議以及社交媒體粉絲超過 2000 萬。由於股票的波動性和新的市場存在，投資者對其估值仍持謹慎態度</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%），這隻在四月初剛剛上市後迅速上漲的媒體股票，隨後又大幅下跌，接下來的一個月繼續降温。在五月，公司的股價幾乎下跌了 21%，主要是因為公司在月底時發佈的公告。</p>
</div><h2>Feels like a fire sale</h2>
<div class="lb-trans"><h2>感覺像是清倉大甩賣</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>在五月的最後一個星期四，Newsmax 透露，證券交易委員會（SEC）已批准一組股東可能進行的大規模出售其 B 類普通股的計劃。該公司實際上解鎖了近 1.213 億股這些股票，持有者包括相當長的一名單獨和機構投資者。</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>圖片來源：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 類普通股是該公司在 <strong>納斯達克</strong> 交易的股票，可能變更的股份數量遠遠超過當前流通的股份數量（根據 Yahoo! Finance 的數據為 8960 萬股）。即使釋放的總量中只有相對小的一部分被出售，其影響也可能極具稀釋性。</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>股東稀釋是任何投資者的主要擔憂，尤其是對那些投資於相對新股票的投資者。Newsmax 在市場上的生命非常短暫，於 3 月 31 日首次在納斯達克上市，正值公司首次公開募股（IPO）之後。</p>
</div><h2>Investors accentuated the negative</h2>
<div class="lb-trans"><h2>投資者放大了負面情緒</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 在作為上市公司首次發佈的財報中沒有出現顯著的底線虧損，投資者可能會更加寬容。</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>其第一季度的虧損超過 1700 萬美元，儘管這比 2024 年同期近 5100 萬美元的虧損要小得多，但仍然是八位數的赤字。與整體收入相比，這一虧損也顯得相當龐大，整體收入同比增長近 12%，達到了 4530 萬美元。</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>這並不是説 Newsmax 的五月完全糟糕；其負面消息只是掩蓋了業務中的積極進展。其中之一是與頂級視頻流媒體平台 Hulu 簽署了多年協議，讓其在 Hulu+ Live TV 服務中播出，這應該有助於提升 Newsmax 的觀眾基礎。另一個是其宣佈在社交媒體平台上超過 2000 萬粉絲。</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>由於 Newsmax 作為股票的生命週期還很早，許多投資者仍在判斷如何最好地評估它——以及是否值得購買。考慮到波動性以及其整體業務也相對較新，我會選擇觀望，直到我們對其最終潛力有更清晰的瞭解。</p>
</div>

為什麼 Newsmax 的股票在五月份下跌了近 21%？