Newsmax’s Explosive IPO: A 700% Surge and the Battle for Conservative Media Dominance
Location: New York City, NY
Newsmax is shaking up the media world in a big way! The conservative cable network made its debut on the New York Stock Exchange, and its shares skyrocketed by more than 700%, opening at $14 per share and closing the day at a jaw-dropping $83.51. In a volatile market, Newsmax raised a cool $75 million through its IPO, selling 7.5 million shares at $10 each — but the real story is in its massive stock surge.
Founded in 1998 by Christopher Ruddy, Newsmax has steadily gained a loyal following, especially since the rise of President Donald Trump and other conservative figures. The network now claims to be the No. 4 cable news channel in the U.S., behind Fox News, CNN, and MSNBC. Still, its audience remains far smaller than Fox News — but with the rise of right-wing politics and a shifting media landscape, Newsmax is on the hunt to challenge the cable news giants.
What makes this IPO so controversial? For one, Newsmax has a pro-Trump reputation, though Ruddy downplays the network’s leanings, emphasizing its commitment to “independent” conservative news. But after settling a $40 million lawsuit over its claims about the 2020 election, this is a bold move toward mainstream media recognition.
As more consumers ditch traditional cable for streaming, Newsmax is capitalizing on the demand for right-wing content. Could this be the beginning of a new era in conservative media, where Newsmax takes on Fox’s dominance? Only time will tell, but one thing’s clear — Newsmax is here to stay.
