Even after crashing down to earth Wednesday, Newsmax is still valued at an extreme premium compared to Fox and the New York Times.

Priced at $10 per share, the cable TV company closed its first day of open-market trading at $83.51 and its second at $233, after rising as high as $265. That left the stock NMAX up 2,230% in its first two days of trade on the New York Stock Exchange.

Newsmax's stock took flight immediately following its IPO, soaring as much as 2,230% by Tuesday. Yesterday, however, shares of Newsmax plummeted 77%.

Newsmax shares plunged Wednesday in the third day of trading for the media company after a wild response to its Monday IPO.

The rise follows conservative media company Newsmax's Monday public debut, which was the best-performing first day since 2022.

Conservative cable network Newsmax (NYSE:NMAX) exploded onto the public markets on Monday, closing at $83.51—up a staggering 735% from its $10

Long a conservative media also-ran, Newsmax’s stock price has risen and fallen dramatically throughout the week.

The company later saw a sharp correction, plunging 79% on its third day as a publicly traded stock. It has now caught the attention of bearish investors, who are betting against its future performance

Conservative news network Newsmax (NMAX) crashed 77.5% on Wednesday, cutting short its explosive post-IPO run. The stock had soared 2,230% in