Newsmax Stock Soars 700% on NYSE Debut
1min read Newsmax's stock price rose 30.01 in pre-market trading on April 1, 2025, marking a significant surge in its value.
Newsmax's debut on the New York Stock Exchange (NMAX) on Monday caught global attention after its stock price surged over 700% during its first day of trading. The conservative cable TV network's audience has grown significantly, particularly after the election of President Donald Trump and other right-wing politicians. newsmax began trading under the symbol "NMAX" late Monday morning, opening at $14 a share after pricing at $10 a share. It soared more than 700% in volatile trading on Monday, closing at $83.51 for the day.
Newsmax's IPO comes at a time when traditional cable TV has suffered as consumers shift towards streaming services. However, news and live sports continue to attract the biggest audiences and most advertising revenue. The network has grown its audience in recent years and is offered through most major pay-TV providers. Christopher Ruddy, the company's founder and CEO, saw an opportunity to compete in the "center right market" since Fox Corp.'s Fox News didn't have a direct competitor. Ruddy founded Newsmax in 1998 as a digital offering before it became a cable TV network in 2014.
Despite its growth, Newsmax's audience has yet to reach the breadth of Fox News. Between Dec. 30 and March 20, Newsmax had an average of 309,000 primetime viewers and 211,000 daytime viewers, while Fox News attracted an average of nearly 3.1 million primetime viewers and roughly 2 million daytime viewers during the same period. Overall, Newsmax ranks in the top 20 among cable network average viewership in both prime time and daytime. As its popularity has risen, Newsmax has negotiated receiving licensing fees from cable TV providers, transitioning from relying solely on advertising revenue.
