Newsmax IPO Erupts 700% As “Owning the Libs” Suddenly Becomes a Viable Investment Thesis…

If you thought the conservative media space was crowded, think again. Newsmax just kicked in the front door of the NYSE, screamed “MAGA”, and saw its share price spike more than 700% on its first day of trading. Logan Roy would be proud…

(Source: Giphy) 

In short, the stock —ticker $NMAX—priced at $10 per share and opened at $14. And in a blink of an eye, the epitome of “get off my lawn energy” proceeded to go full GameStop, closing at $83.51 and hitting triple digits in after-hours. That’s a market cap flirting with $9 billion. For a cable news network that’s still scraping together a few hundred thousand viewers a night. You do the math—or don’t, because clearly nobody else did either. 

But honestly, this is quite amazing for a few reasons. For one, Newsmax has always been the weird little cousin of Fox News. Founded by Christopher Ruddy in 1998 as a digital rag for Clinton conspiracy theories, it became a TV network in 2014 and has since carved out a niche as the go-to cable channel for people who think Tucker Carlson went soft. It currently ranks fourth in cable news behind Fox, MSNBC, and CNN, with around 309,000 primetime viewers—roughly one-tenth of Fox’s nightly numbers. 

(Source: CNBC) 

So why the hell did it trade like Nvidia on acid? Three words: Trump. Media. Mania. Simply put, Ruddy went on CNBC the morning of the IPO and called Newsmax the “center-right alternative” to Fox News. Which is like calling meth the “casual alternative” to cocaine. But hey, it was a smart move considering brand position is everything. Additionally, every blue haired barista’s worst nightmare also boasted that Trump called him to offer congratulations, while also dropping the line, “A rising Trump lifts all boats.” Yuuuge. 

What’s more is that it didn’t hurt that the float was small—only 7.5 million shares sold, raising $75 million. That’s pocket change in public markets but enough to create a liquidity crunch when the hype machine kicks in. And boy, did it kick in. Between the Trump callout, retail traders looking for the next DWAC, and a little sprinkle of “own the libs” energy, $NMAX turned into a red-capped rocket.

(Source: Giphy) 

But, but, but, here’s the part where I remind you this is still a business. And the fundamentals are, uh… let’s say “unresolved.” Newsmax has grown, sure. It’s now in the top 20 of all cable networks during prime time. It even landed licensing fees from major carriers after threatening to walk away from DirecTV like a primadonna. But the gap between it and Fox is still a canyon. One network reaches 3.1 million viewers a night. The other is hoping you don’t change the channel after Greg Kelly finishes yelling about Nancy Pelosi ruining the integrity of the markets (to be fair, he’s not wrong).

Plus, don’t forget the $40 million defamation settlement Newsmax paid to Smartmatic. Which definitely stings a bit more than usual, especially for a company whose last major revenue boost came from being slightly less unhinged than OAN. However, at the end of the day, none of that mattered during the IPO. The stock went vertical, snowflakes sobbed quietly in the corner, and Newsmax became the latest proof that in 2025, media is less about content and more about tribes. And right now it’s paying off big-time. 

(Source: Giphy) 

Now the bigger question is, will it last? Maybe, maybe not. The stock’s already attracting short sellers like flies to a Fox Nation subscription. Retail’s attention span is shorter than a Sean Hannity monologue, and unless Newsmax can actually convert eyeballs into earnings, this pop may not sustain itself. But for now, conservative media is back, baby—and Newsmax just pulled off one of the most absurd debuts in recent memory. 

Again, they didn’t do this because they’re a media powerhouse, but because in this market, outrage is a business model, and owning the libs is a viable investment thesis. God bless America, and good luck shorting this thing. As always, stay safe and stay frosty, friends! Until next time… 

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Stocks.News does not hold positions in companies mentioned in the article.