A NEWSMAX tv crew member steam irons a backdrop through the Conservative Political Motion Convention (CPAC) in Nationwide Harbor, Maryland, on Saturday, February 24, 2024.
Tom Brenner | The Washington Publish | The Washington Publish | Getty Photos
Shares of conservative cable channel Newsmax soared greater than 40% in early buying and selling Tuesday, a day after the inventory’s dizzying debut on the New York Inventory Change.
Newsmax shares spiked greater than 700% of their first buying and selling day Monday, closing at $83.51 per share. The inventory opened the day at $14 per share.
The buying and selling Tuesday continues a surprising rise for the pure-play cable TV inventory. The trade has suffered lately as shoppers flee cable bundles in favor of streaming.
The correct-wing TV channel has gained traction throughout President Donald Trump’s second time period, and it is the fourth most-watched cable information channel after Fox Information, MSNBC and CNN, in response to Nielsen. Nonetheless, its viewership pales compared to the dominant conservative channel Fox.
Between Dec. 30 and March 20, Newsmax had a median of 309,000 primetime viewers and 211,000 daytime viewers, in response to Nielsen information. Fox Information attracted a median of practically 3.1 million primetime viewers and roughly 2 million daytime viewers throughout the identical interval.
This story is creating. Please verify again for updates.
