MAGA favorite Newsmax is the hottest new meme stock after a 2,190% post-IPO surge [Yahoo! Finance]
Fox Corporation - Class B (FOX)
Last fox corporation - class b earnings: 5/10 04:03 pm
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Source: Yahoo! Finance
The stock's rise may be due to the limited shares offered in the 'mini IPO.' Newsmax has cemented its status as a meme stock following its IPO debut on Monday. The stunning rally for shares of the media company in the two days since going publish represents a gain of 2,190%, catapulting its market valuation to more than $20 billion and making its founder and CEO, Chris Ruddy, a billionaire on paper. The market cap shows investors also think that the company is more valuable than legacy brands like The New York Times and nearly as valuable as Fox Corporation, which owns conservative TV stalwart Fox News. So what's going on? The massive gains could be partly due to the small number of shares offered in the "mini IPO." Shares of companies with a "low float" are more susceptible to huge swings in either direction, as investor demand for a comparatively small amount of stock can make for greater volatility. Newsmax sold 7.5 million shares at $10 per share, raising $75 million fo
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- FOX (NASDAQ:FOX) had its "buy (b+)" rating reaffirmed by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>.MarketBeat
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