Newsmax Stock Soars Following Its IPO Launch
Dedicated Newsmax viewers who heeded the channel’s calls last year and purchased $10-per-share stocks in the company are seeing substantial gains at present. These shares have surged to almost $200 each recently. This week’s initial public offering has been hugely successful for the pro-Trump talk and news channel, which had previously lagged behind in a market largely controlled by Fox News. Chris Ruddy, the CEO of Newsmax—who has become a billionaire on paper due to the stock's remarkable surge—told GudangMovies21, "In the last election, Americans chose to go against the established media, much like how investors have shown their support for us by significantly purchasing our stocks, indicating that they appreciate what we do and wish for our continued growth." Newsmax now finds itself with ample resources for expansion. Yet, due to excessive enthusiasm from investors, several media organizations have labeled it as a "meme stock." On Monday, the st...