- Newsmax stock jumped from $10 to over $215 in two days, sparking comparisons to GameStop’s meme stock surge.
- Trading was so volatile that it triggered multiple halts, attracting major attention from retail investors.
- Despite $55M in losses, Newsmax is betting on growth with Trump back in office and aims to rival Fox News.
Newsmax shares just keep climbing. After a jaw-dropping 700% surge on its first day of public trading Monday, the momentum didn’t slow down. By Tuesday afternoon, the stock had soared to around $215 per share—up nearly 160% just on the day.
Not bad for anyone who got in at the $10 IPO price. That’s… a pretty wild return.
From $10 to $215 — In Less Than Two Days
When the bell rang Monday morning, Newsmax—trading under ticker symbol NMAX—popped off immediately. Shares launched from $10 to nearly $78 by close. In after-hours trading, they kept going.
And then Tuesday hit. Another leg up. At one point, trading was so volatile that it had to be halted multiple times. Sound familiar? Yeah, to some traders, this whole thing smells a lot like GameStop 2.0.
Meme Stock Vibes?
Social media and trader forums lit up with comparisons to the meme stock mania that took over markets a few years ago. People are pointing out the similarities: big retail interest, massive price swings, and a company that—on paper—isn’t exactly swimming in profit.
In fact, Newsmax posted a $55.5 million loss in the first half of 2024. And like GameStop, it’s in an industry fighting some serious headwinds—cable news isn’t exactly thriving these days.
Chasing Fox News
Still, Newsmax has carved out its niche. It’s a right-leaning cable network, even more so than Fox News, and it’s gunning for the same audience.
Fox remains the dominant force, though—it recently posted its best February ever, pulling in an average of 3.1 million primetime viewers. Newsmax, by comparison, still has a lot of catching up to do. But with Trump back in the White House, the network seems to be betting big on a boost in attention… and viewers.
A Long Way From 1998
Newsmax was founded by Christopher Ruddy back in 1998, and its cable channel didn’t launch until 2014. Fast-forward a decade, and now it’s at the center of one of the most explosive IPOs in recent media memory.
Whether the stock holds—or tumbles—is anyone’s guess. But for now, it’s flying.
