Is Newsmax Stock a Buy?
Politically right-leaning news outlet Newsmax (NYSE: NMAX) went public in an initial public offering in late March that could have easily gone unnoticed. However, shares of the company soared out of the gate. Newsmax stock closed its first day of trading more than 5 times higher than it started. By the end of day two, the company had blasted off again and closed the day around $233 per share. Newsmax had instantly become a good, old-fashioned meme stock. While shares have fallen significantly since then, the stock closed at around $19 on June 3, nearly a double for those who managed to get in at the IPO price. Investors are now wondering, is Newsmax a buy now?Newsmax not only runs a cable network with several television channels, but also creates original content on its flagship website, Newsmax.com, and through various podcasts, radio, and other digital and print publications. The main sources of revenue for the company are through advertising, subscription, and affiliate revenue.Continue reading
Politically right-leaning news outlet Newsmax (NYSE: NMAX) went public in an initial public offering in late March that could have easily gone unnoticed. However, shares of the company soared out of the gate. Newsmax stock closed its first day of trading more than 5 times higher than it started. By the end of day two, the company had blasted off again and closed the day around $233 per share. Newsmax had instantly become a good, old-fashioned meme stock. While shares have fallen significantly since then, the stock closed at around $19 on June 3, nearly a double for those who managed to get in at the IPO price.
Investors are now wondering, is Newsmax a buy now?
Newsmax not only runs a cable network with several television channels, but also creates original content on its flagship website, Newsmax.com, and through various podcasts, radio, and other digital and print publications. The main sources of revenue for the company are through advertising, subscription, and affiliate revenue.
