Newsmax Shares Surge 500% in IPO Debut

Newsmax, the right-leaning cable news outlet, is enjoying a big debut on Wall Street on Monday, with its share price surging more than 500% above its initial public offering price.

Shares of Newsmax started trading for $14 per share on Monday morning — above its $10 IPO price — and quickly ran from there.

The outlet’s stock was halted six times in the first three hours of trading, as excited investors looked to grab shares of the Trump-friendly outlet. By midday trading, Newsmax was going for $61.52 per share — up 515.20%. Newsmax is trading under the NMAX symbol on the New York Stock Exchange.

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