The media applied by Trump sees 2,200%

Conservative TV company Newsmax has seen its stock market assessment increased by more than 2,200% since its inception in New York on Monday.

The actions of the American company, which were originally at a price of $ 10 (£ 7.75) each, amounted to $ 233 at the end of the negotiation session on Tuesday.

This means that it has a market value of almost $ 30 billion, which exceeds Fox Corp – the owner of Rival Fox News – and other giants of the Warner Bros Discovery and Paramount Global media.

Newsmax is considered friendly to American president Donald Trump and was promoted by him during his first mandate in the White House.

The high increase in the course of action has made the founder and chief executive officer of Newsmax, Christopher Ruddy, one of the richest people in the United States, with a net value of more than $ 9 billion, according to the Bloomberg Billionaire index.

Analysts said retail investors were driving gains, making comparisons with the Gamestop Prize.

The popularity of the video game retailer among certain investors during the pandemic helped invent the idea of ​​memes’ actions.

The stock phenomenon was part of a broader increase in negotiations by retail investors – people who do not work for investment houses or other private companies.

Newsmax was founded in 1998 as an online platform. He launched his cable news channel in 2014.

Her notes were stimulated in 2020 when he was approved by Trump, who was increasingly angry with Fox News.

Mr. Ruddy, who is a friend of Trump, insisted at the time That he didn’t want Newmax to become “Trump TV”.

Earlier this month, Newsmax paid $ 40 million to settle allegations that she defamed the SmartMatic voting machine company By reporting false claims that this helped to fake the 2020 elections for Joe Biden.

This is the last company with links with the Conservatives to start selling stocks on the stock market, joining the Canada Rumble Inc video platform and the media group of President Trump, Trump Media & Technology Group.