- For fun: now more valuable than Fox. Archived Message
Posted by osklister
on April 1, 2025, 17:54:43, in reply to "And JFC at Newsmax"
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Newsmax More Valuable Than Fox After Shares Surge 180% Newsmax is now more valuable than Fox Corp. after shares of the right-wing media company skyrocketed again on Tuesday, a market shift that nearly tripled the company’s market cap after a massive debut Monday. Newsmax surged 180% to end Tuesday trading at $234, after opening the day at $83.51. The market shift increased Newsmax’s market cap to just below $30 billion from $10.7 billion on Monday, a valuation that surpasses Fox’s market cap of about $23.4 billion after shares for the company declined slightly (1.7%) on Tuesday. Trading in Newsmax’s stock was briefly halted five times for volatility on Tuesday, including five-minute pauses that started at 2:17 p.m., 1:54 p.m., 10:06 a.m., 10:22 a.m. and 10:34 a.m., according to Nasdaq. Newmax debuted on the New York Stock Exchange on Monday as shares surged over 700% during its first day of trading, though trading in the stock was halted a dozen times for volatility. https://www.forbes.com/sites/tylerroush/2025/04/01/newsmax-shares-surge-150-after-volatile-ipo-as-market-cap-doubles/ April Fools' Day? Who knows. |