Even after crashing down to earth Wednesday, Newsmax is still valued at an extreme premium compared to Fox and the New York Times.

The rise follows conservative media company Newsmax's Monday public debut, which was the best-performing first day since 2022.

Conservative cable network Newsmax (NYSE:NMAX) exploded onto the public markets on Monday, closing at $83.51—up a staggering 735% from its $10

The IPO rally became the largest in the history of the NYSE, propelling the media company's owner to multi-billionaire status.

Newsmax stock dropped as much as 20% premarket Wednesday after a massive post-IPO surge saw shares soar from $10 to $233.

Shares in Newsmax, the cable TV news outlet known for its sympathetic coverage of Donald Trump, soared more than 700% on their first day of trading.

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 $5.5 billion.

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,