Conservative cable channel Newsmax saw a dramatic 70% drop in shares post-IPO

From CNBC: 2025-04-02 14:57:00

Shares of Newsmax plummeted over 70% after a meteoric rise post-IPO, surpassing market caps of Warner Bros. Discovery and Fox Corp. The Regulation A offering attracted retail investors, drawing comparisons to GameStop. Newsmax has a small float, with less than 6% of shares available for trading. The conservative news outlet ranks in the top 20 for cable network average viewership.

Read more: Conservative cable channel Newsmax shares plunge more than 70% after a dizzying 2-day surge