Newsmax shares increase more than 700% after a volatile IPO

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Newsmax made its debut on the New York Stock Exchange on Monday and jumped more than 700% during its first day of negotiation, which led to a dozen commercial facilities after its first public call to public, while its market capitalization increased to more than $ 7.3 billion.

Key facts

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Surprisingly

Newsmax’s market capitalization is not too far from other media actions such as New York Times Company and CBS’s parent company, which have 8 billion dollars and $ 8.4 billion respectively. On Monday afternoon, Newsmax was more precious than media companies Tegna and Sinclair Combined, which together have nearly 250 local television stations.

How are Newsmax’s actions compare to other right-wing media companies?

The volatility of the first day of Newsmax evocative of the major oscillations of other right-wing media societies such as the social social company Truth Social Trump Media and Technology Group and the Rumble video sharing platform. Trump Media, who became public a little over a year ago, increased by 56% to $ 78 per share during his beginnings and was interrupted for volatility before refreshing himself at the end of his first day of negotiation, closing at $ 57.99. Trump Media’s actions have remained volatile since, reaching a minimum of $ 13.55 in September, going to $ 40.03 in January and recently closed around the $ 19 mark. A large part of the company’s movements seems to be linked to the developments concerning President Donald Trump, as opposed to the financial performance of the company (he declared $ 401 million in net losses last year). Rumble’s actions spent a large part of last year rebounded around $ 5 and $ 7 before moving to $ 15.23 before the end of the year, a summit of all time. The shares have been more than divided by two since then, negotiating about $ 7.11 on Monday.

Key

Newsmax raised $ 75 million in its first public public call, selling 7.5 million shares for $ 10 each. The media also ended a private private offer last month and collected $ 225 million. The increase in negotiation on Monday is abnormal for most media companies, in particular that which has established itself as a cable information network in an increasing change towards streaming services. Newsmax recently settled a defamation trial with the SmartMatic voting technology company on false complaints The voting machines of the company have unjustly helped the former president Joe Biden to win the 2020 presidential election.

Upon reading

SmartMatic settles with Newsmax: Here is where the other Dominion (Forbes) are the other prosecution