Newsmax stock plunged 26.8% due to unfavorable court ruling and macroeconomic challenges

From Nasdaq: 2025-04-10 19:55:00

Newsmax (NYSE: NMAX) experienced a significant drop in share price by 26.8% due to macroeconomic challenges and an unfavorable court ruling involving defamatory statements against Dominion Voting Systems. The S&P 500 index also fell by 3.5% in response to new tariffs on China. Newsmax stock is down 69.5% from its IPO. Despite an initial surge, fueled by meme-stock momentum, Newsmax’s financial performance raises concerns, with a net loss of $72.2 million on sales of $171 million last year. The defamation case against Newsmax by Dominion is heading to a jury trial, potentially resulting in a substantial settlement or judgment.

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