Cable news firm Newsmax soars 278% in volatile debut after IPO

Newsmax Inc. shares more than tripled in their debut trading session after a $75 million initial public offering brought the conservative media outlet onto the New York Stock Exchange.

The stock spiked 278% to $37.78 at 11:25 a.m. in New York, in a volatile debut that saw shares halted for volatility five times in the first 30 minutes. The company raised $75 million in the offering, selling 7.5 million shares for $10 apiece.

The trading gives Newsmax a market value of nearly $5 billion, based on the outstanding shares listed in a regulatory filing.

The spike came as more than 2 million shares changed hands. Company share prices can be volatile in their debut sessions given a lack of liquidity and potentially pent-up demand - that’s the case particularly in smaller IPOs or for companies with less scale.

The company previously completed a private preferred offering in February 2025, raising $225 million.

Newsmax settled a defamation lawsuit with Smartmatic Corp. over broadcasts claiming that the voting technology company rigged the 2020 presidential election against Donald Trump, according to an announcement in September.

The offering was led by Digital Offering LLC. Newsmax shares trade under the symbol NMAX.