Newsmax Stock Soars 700% on IPO Debut, Nasdaq Closes Q1 Down 10%
The news channel Newsmax held its IPO, going public today, with the stock surging 700%, while Nasdaq ended Q1 more than 10% lower, despite a late rebound in S&P 500 and Dow Jones Industrial Average.
Newsmax Makes a Spectacular Market Debut
Newsmax (NMAX) made a spectacular debut on the stock market with its initial public offering (IPO) priced at $10 per share. Trading began at $14, but within just a few hours, the stock skyrocketed to an intraday high of $82, triggering over 10 trading halts due to extreme volatility. By the end of the trading session, Newsmax closed at $83.50, representing a remarkable 735% gain from its IPO price. The momentum continued after-hours, pushing the stock even higher to $88, extending its rally beyond market close.
Founded in 1998 as a digital media platform, Newsmax has grown into a prominent conservative news network with a strong presence in cable television. Based on the circulating share count disclosed in regulatory filings, the company’s market valuation now exceeds $10 billion, marking a significant milestone in its expansion into mainstream media.
IPO Funding and Market Strategy
Raised $75 million by selling 7.5 million shares in the IPO.
Previously secured $225 million in a private preferred offering in February.
Listing managed by Digital Offering LLC.
Stock Market Overview: Rebound Amid Bearish Q1 Performance
Despite Newsmax’s explosive debut, the broader stock market remains under pressure. Major indices posted a strong rebound on the day but closed Q1 in the red:
Dow Jones and S&P 500 bounced higher, recovering from recent losses.
Nasdaq struggled, ending March down 8.5%, leading the quarterly selloff as tech stocks continued to decline.
While Newsmax’s IPO excitement highlights investor appetite for new opportunities, broader macroeconomic concerns persist. Earnings reports, inflation data, trade policies, and Federal Reserve decisions will continue to shape market sentiment in the coming months.
US Stock Market Ends Mixed as Monthly and Quarterly Losses Deepen
Daily Performance: Dow Rallies, Nasdaq Lags
Dow Jones Industrial Average gained 417.86 points (+1.00%), closing at 42,001.76.
S&P 500 rose 30.91 points (+0.55%) to 5,611.85.
Nasdaq Composite dropped 23.70 points (-0.14%), closing at 17,295.29.
Russell 2000 declined 11.36 points (-0.56%), finishing at 2,011.91.
Monthly Performance: Worst Monthly Declines Since December 2022
Despite today’s gains in the Dow and S&P 500, all major indices posted losses for the month:
Dow fell -4.20%.
S&P 500 dropped -5.75%, marking its worst month since December 2022.
Nasdaq plummeted -8.21%, also experiencing its worst monthly drop since December 2022.
Q1 2025 Performance: Nasdaq Leads the Downturn
Dow lost -1.28% in Q1.
S&P 500 declined -4.59%.
Nasdaq suffered the most, down -10.42%, reflecting continued pressure on tech stocks.
Despite a strong daily rebound, the overall market trend remains bearish, with all major indices finishing Q1 in the red. Tech stocks led the quarterly selloff, with the Nasdaq posting a double-digit loss. The recent decline suggests investors remain cautious amid macroeconomic uncertainty, trade policy concerns, and shifting market sentiment. Moving forward, earnings reports, inflation data, and Federal Reserve policy decisions will be key drivers of market direction.
Nasdaq Index Live Chart
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