Conservative cable channel Newsmax shares plunge 77% after a dizzying 2-day surge

Shares of conservative news channel Newsmax plunged more than 70% on Wednesday as its meteoric rise as a new public company proved to be short-lived.

The stock tumbled a whopping 77.5%, following a 2,230% surge in Newsmax’s first two days of trading after debuting on the New York Stock Exchange. At one point, the rally gave the company a market capitalization of nearly $30 billion, surpassing the market cap of legacy media companies such as Warner Bro. Discovery and Fox Corp.

[https://www.cnbc.com/2025/04/02/conservative-cable-channel-newsmax-shares-plunge-more-than-70percent-after-a-dizzying-2-day-surge.html](https://www.cnbc.com/2025/04/02/conservative-cable-channel-newsmax-shares-plunge-more-than-70percent-after-a-dizzying-2-day-surge.html)