Cable news channel Newsmax stock breaches past $200 mark amid relentless stock rally
ReutersApr 1, 2025 6:16 PM
Conservative cable news channel Newsmax's NMAX.N shares jump as much as 173% to $228 in second day of trading
Stock last up 171% at $226.33, valuing the company at $29 billion
NMAX closed with more than eightfold gains at $83.51 on Monday in its eye-popping NYSE debut
The Florida-based company is top trending ticker on investor-focused social media stocktwits.com
NMAX raised $75 million at $10 apiece in its "mini IPO", a scaled-down version of a traditional IPO
Company reported a net loss of $72.2 million and revenue of $171 million in 2024, compared with a net loss of $41.8 million and $135.3 million revenue in 2023, according to SEC filing
NMAX, which entered the cable news market in 2014, reaches more than 40 million Americans each month
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