12 sources·Business

Newsmax's IPO Surge and Market Developments: A Look at Key Stocks

Market updates: Newsmax's stock soars, while Schwab receives a buy rating boost amid varied performances from other major companies.

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The distribution of story sources: left-leaning (blue), center (light gray), and right-leaning (red).

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Balanced

The underlying sources are either a balanced mix of left and right or primarily centrist.

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The outlook is rosy for shares of Charles Schwab , according to Citi.
Citi upgrades Schwab, sees an ‘improving growth story ahead’
CNBC·18d
Reliable
This source consistently reports facts with minimal bias, demonstrating high-quality journalism and accuracy.
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Center
This outlet is balanced or reflects centrist views.
The company faces challenges including a production slowdown, cooling EV market, and broader economic uncertainty, and aims to return to growth after logging its first annual sales drop in over a decade last year.
Stock Movers: Tesla, Palantir, Amazon
Bloomberg·18d
Reliable
This source consistently reports facts with minimal bias, demonstrating high-quality journalism and accuracy.
·
Center
This outlet is balanced or reflects centrist views.
The early performance of the stock is likely being driven by President Trump’s enthusiastic supporters, who are super-served by Newsmax commentators providing a positive narrative for the White House throughout the day.
Trump-loving network Newsmax is a hot stock on Wall Street
Los Angeles Times·18d
Reliable
This source consistently reports facts with minimal bias, demonstrating high-quality journalism and accuracy.
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Leans Left
This outlet slightly leans left.
But the market’s overexuberance has some media outlets calling it a “meme stock.”
Newsmax stock surges after its IPO | Business
CNN·19d
Reliable
This source consistently reports facts with minimal bias, demonstrating high-quality journalism and accuracy.
·
Leans Left
This outlet slightly leans left.

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Updated: Apr 2nd, 2025, 12:38 PM ET

Summary

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In midday trading, Newsmax's stock soared 2,230% since its IPO earlier this week, but retreated in pre-market trading. Schwab's shares gained after Citi upgraded its rating to buy, predicting a 31% upside, citing effective client integration post-TD Ameritrade acquisition. Roblox rose 5% from its partnership with Google, while Live Nation shares increased following an anti-scalping executive order by President Trump. PVH Corp. saw significant gains after exceeding earnings guidance, but Johnson & Johnson's stock fell 5.6% due to ongoing talc lawsuits. Meanwhile, Scotts Miracle-Gro and Reinsurance Group of America stocks received positive upgrades amid market uncertainty.

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Newsmax had a significant IPO, raising over $75 million, with share prices surging from $10 to over $233, reflecting high investor interest despite its challenging financials and ongoing legal issues.
The stock performance has brought substantial wealth to its CEO, Christopher Ruddy, indicating a potential shift in the media landscape where alternative news sources gain traction among investors and viewers.
There are concerns about the sustainability of Newsmax's success given its historical losses, legal challenges related to defamation lawsuits, and the broader issues facing the cable news industry.

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