Newsmax debuted on the New York Stock Exchange on Monday and surged over 500% in the first few hours of trading, leading to nearly a dozen trading halts following its initial public offering, as its market cap surged to more than $5.

Newsmax IPO saw its stock surge 700% on its NYSE debut, with shares closing at $82.25. The news company is a strong competitor to Fox News.

Shares of Newsmax Inc. have surged more than 700% during their first day of trading on the New York Stock Exchange, in a chaotic debut that drew comparisons to the meme stock rallies of recent years and left the conservative media outlet with a market capitalisation close to US$9 billion.

The stock tumbled a whopping 72% Wednesday, following a 2,230% surge in Newsmax’s first two days of trading after debuting on the New York Stock Exchange.

Conservative news outlet Newsmax (NMAX) is soaring for the second day in a row after debuting on the NYSE yesterday in a wild IPO.  NMAX stock was offered at $10 per share, but raced 735% higher in its first day of trading to close out its first day as a public company at $83.

Conservative cable news channel Newsmax is getting a Trump bump on Wall Street. The Boca Raton, Florida, outlet's stock price surged after its initial public offering Monday. Shares offered at $10 closed at $233 a share Tuesday afternoon,

Newsmax lost $55 million in the first half of last year. But its stock has surged this week as shares in the company traded on the public market for the first time.

Conservative TV company Newsmax has seen its stock market valuation surge by more than 2,200% since its debut in New York on Monday. The US firm's shares, which were originally priced at $10 (£7.75) each,