Newsmax Shares Drop Sharply After Outsized Gains During First Trading Days Following IPO

MT Newswires Live

04-02

Newsmax's (NMAX) shares were falling sharply in early Wednesday trading, recently sinking nearly 46%, following huge advances since its debut Monday.

Shares of the video news outlet closed Monday at $83.51, after the company priced its IPO of 7.5 million class B shares at $10 apiece. It climbed higher Tuesday, finishing its second day on the New York Stock Exchange at $233 per share.

Price: 145.01, Change: -87.99, Percent Change: -37.76

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