Even after crashing down to earth Wednesday, Newsmax is still valued at an extreme premium compared to Fox and the New York Times.

Key Takeaways Shares of conservative news channel Newsmax more than doubled in intraday trading Tuesday, putting the stock 2,000% above its IPO price.The stock soared 735% during its first day of trading Monday,

Priced at $10 per share, the cable TV company closed its first day of open-market trading at $83.51 and its second at $233, after rising as high as $265. That left the stock NMAX up 2,230% in its first two days of trade on the New York Stock Exchange.

Because its business is consuming cash, Newsmax had to raise capital from investors. While awaiting its IPO, it launched a private offering to sell up to $225 million of convertible preferred stock. The IPO raised another $75 million in cash to help fund Newsmax's operations and growth.

Newsmax Inc. shares skyrocketed 735% in their debut session after the conservative media outlet’s initial public offering, with individual investors helping hand the firm the best first-day performance since 2022.

Conservative cable network Newsmax (NYSE:NMAX) exploded onto the public markets on Monday, closing at $83.51—up a staggering 735% from its $10

Newsmax Inc.'s 17x surge defies fundamentals and faces profitability challenges. Here's why experts urge caution on highly speculative NMAX stock.

Newsmax went public this week, and the low volume of shares available to trade has exacerbated the impact of high demand, sending the stock soaring.