Newsmax, Inc. (NMAX)
Newsmax, Inc. is a media company known for its news and political commentary. It operates a digital news platform, providing coverage on current events, politics, and conservative viewpoints. Newsmax has expanded from its traditional television broadcast roots to a strong online presence, offering content across various digital channels.
Company News
Newsmax went public with initial stock surge but experienced significant price decline, trading below peak levels despite audience growth and increased viewership.
A federal judge dismissed Newsmax's antitrust lawsuit against Fox News just a day after it was filed, citing procedural issues with the complaint. Newsmax alleged Fox engaged in anti-competitive practices to block right-leaning news channel competition.
Newsmax, a conservative news media company, had a meteoric rise in its stock price after its IPO, mirroring the meme stock frenzy seen with GameStop and AMC. The stock price surged over 2,500% in just two days, raising concerns about the sustainability of such rapid growth.