Newsmax’s debut on the New York Stock Exchange (NMAX) on Monday caught the attention of more than investors as major media outlets took notice of the trading that began at $14 per share and closed at $83.51, a jump of 735%, with Bloomberg calling it the best opening day in three years.
The Wall Street Journal agreed, calling it a “roaring market debut.”
Forbes noted Newsmax’s market cap, reporting Monday afternoon that Newsmax “was more valuable than the media companies Tegna and Sinclair combined, which together own nearly 250 local television stations.”
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