Newsmax (NYSE: NMAX) CEO Christopher Ruddy rang the opening bell at the New York Stock Exchange on Thursday to celebrate the company’s IPO earlier this week. With an initial share price of $10, Newsmax raised $75 million with the stock surging dramatically the first day and peaking at $279.99 in after-hours trading on Tuesday. Despite a correction on Wednesday, the stock achieved a remarkable 400% increase in just three days of public trading. While some compared the frantic trading pace to meme stocks, Newsmax rejects those claims, noting its status as a major media enterprise. The company, which launched its cable news channel in 2014, is the fourth-ranked cable news network in the U.S., reaching over 40 million Americans through its platforms.

“Some people are saying we broke recent records [for the] New York Stock Exchange,” Ruddy said on “The Record With Greta Van Susteren,” clarifying his focus as more on building the company than the stock price. “I think this just proves the American people really like your show. They like Newsmax. They trust us. They value us, and they’re encouraging us to grow more.”

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About Newsmax Inc.

Newsmax is a holding company that owns 100% of the equity interests of its operating company Newsmax Media Inc. Newsmax Media is the parent company of Newsmax Broadcasting LLC and a multimedia company that offers Americans independent news. Since its founding in 1998 by Christopher Ruddy, an award-winning journalist, Newsmax has become a go-to place for Americans seeking real news and opinion.

Newsmax operates the Newsmax channel, now the fourth highest-rated cable news channel, according to Nielsen, and available on all major cable systems and OTT platforms.

Newsmax’s media properties reach more than 40 million Americans regularly through the Newsmax channel, its free streaming channel Newsmax2, the Newsmax App and its streaming service Newsmax+, its website Newsmax.com, and publications like Newsmax Magazine.

Forbes calls Newsmax “a news powerhouse.” Last year the Reuters Institute study found that Newsmax was one of the top 12 U.S. news brands.

Through its media outlets Newsmax champions a free press, one that provides Americans with balanced coverage, diverse viewpoints, and open debates on the issues affecting our lives.

Newsmax Inc., based in Boca Raton, Florida, with offices in Washington, D.C. and New York City, is a privately held company headed by its CEO and majority shareholder Christopher Ruddy. For more information about Newsmax, please visit www.NewsmaxInvest.com.

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