Opening with a bang, conservative TV network Newsmax has made a bold entrance onto the New York Stock Exchange, capturing significant investor interest and recording an unprecedented 700% surge in its share price.
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While addressing a demand for competition against dominant media outlets, this conservative news platform managed an extraordinary market debut.
On March 31, 2025, Newsmax officially began trading under the symbol “NMAX” on the NYSE. The network launched with 7.5 million Class B shares sold at $10 each, raising $75 million.
The stock opened the trading day at $14, already positioning itself above its IPO price.
Throughout the day, shares rallied to an astonishing $83.51, igniting such volatility that trading was temporarily halted.
Over 3 million shares were exchanged, underscoring a remarkable spotlight on Newsmax’s potential and stirring expectations for future growth.
This marks a crucial point in Newsmax’s trajectory as it moves from being ad-revenue driven to securing licensing fees from cable providers.
Prior to their IPO, the company had raised $225 million through a private preferred offering earlier this year.
The IPO was successfully led by Digital Offering LLC. CEO Christopher Ruddy highlighted Newsmax’s focus on conservative, yet independently driven journalism with an aim to pose tough questions, even to the Trump administration.
More voices in the media landscape signal a fresh wave of competition against Fox News.
“I think there was a demand for more competition against Fox,” stated Christopher Ruddy, the company’s founder and CEO, cited by CNBC.
Newsmax has taken significant strides in expanding its presence, as demonstrated by its diverse platform offerings, including Newsmax channel, Newsmax2, and the Newsmax App.
The network’s ability to draw in a range of perspectives will continue to play a crucial role in driving its success and market reach.
BREAKING: NEWSMAX closes IPO for $75 million! Trading in $NMAX begins Monday on NYSE, MORE: https://t.co/JO0ldKOHnt pic.twitter.com/n7ydeQf3Sg
— NEWSMAX (@NEWSMAX) March 28, 2025
