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Newsmax Experiences Remarkable Stock Surge
A member of the NEWSMAX production team was spotted preparing a backdrop during the Conservative Political Action Conference (CPAC) held in National Harbor, Maryland, on February 24, 2024.
In a notable turn of events, shares of the conservative television network Newsmax surged by over 40% in early trading on Tuesday, following a remarkable debut on the New York Stock Exchange the previous day.
On its first day of trading, Newsmax witnessed its stock price soar by more than 700%, ultimately closing at $83.51 per share after starting at $14. This sharp increase marks a significant moment for the network amidst a challenging landscape for traditional cable television.
The surge in Newsmax’s stock reflects its growing prominence in the world of cable news, particularly during the latter years of President Donald Trump’s administration. Ranking as the fourth most-watched cable news channel, Newsmax trails behind heavyweights like Fox News, MSNBC, and CNN, according to Nielsen ratings. Nevertheless, it continues to carve out a niche within the conservative media space.
Recent Nielsen data indicates that between December 30 and March 20, Newsmax averaged 309,000 viewers during primetime and 211,000 during daytime slots. In stark contrast, Fox News commanded the largest audience with approximately 3.1 million primetime viewers and around 2 million daytime viewers during the same timeframe.
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