Story perspectives
Newsmax Stock Soars 500% in Record Debut
3/31/2025
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Story summary
- Newsmax's stock skyrocketed over 500% on its debut, reaching $61.52 per share from a $10 IPO price.
- Trading was halted six times within three hours due to overwhelming demand.
- Founded in 1998 by Chris Ruddy, Newsmax is headquartered in Boca Raton, Florida.
- The outlet boasts approximately 20 million social media followers and diverse media services.
- CEO Ruddy maintains over 80% voting power after the IPO.
