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Down More Than 90% From Its All-Time High, Is Newsmax Stock a Buy on the Dip or an Investment to Steer Clear of?
Newsmax (NYSE: NMAX) has only been a public company for about three months, but the conservative media outlet caught public attention at its initial public offering (IPO), surging from its IPO price of $10 to $233 within a few days, then began a precipitous drop back. It's now trading around 94% below its high, in the neighborhood of $14 to $15. But is it a rare buying opportunity at that price or a value trap?Newsmax is a conservative media company with several revenue-generating assets, including broadcast TV channels and other media outlets that make money from advertising, as well as products like books and a nutraceutical business.The company has been around since 1998 as a digital media company, but its cable network got off the ground in 2014. It rose to prominence during the 2020 election cycle, and over the past five years, it has signed several important streaming deals that put its content in front of its target audiences.Continue reading
Newsmax (NYSE: NMAX) has only been a public company for about three months, but the conservative media outlet caught public attention at its initial public offering (IPO), surging from its IPO price of $10 to $233 within a few days, then began a precipitous drop back. It's now trading around 94% below its high, in the neighborhood of $14 to $15. But is it a rare buying opportunity at that price or a value trap?
Newsmax is a conservative media company with several revenue-generating assets, including broadcast TV channels and other media outlets that make money from advertising, as well as products like books and a nutraceutical business.
The company has been around since 1998 as a digital media company, but its cable network got off the ground in 2014. It rose to prominence during the 2020 election cycle, and over the past five years, it has signed several important streaming deals that put its content in front of its target audiences.
