Shares of Newsmax surged 722% on its debut, hitting an intraday high of $82.25 and generating $75 million through a mini-IPO. The company’s valuation reached approximately $8 billion, surpassing that of Trump Media while being a third of Fox Corp's worth. CEO Christopher Ruddy mentioned that Newsmax intends to fulfill the growing demand for competition against Fox News, fueled by increasing interest in conservative media. The company has attracted prominent figures to its programs and has gained considerable popularity since the 2024 election.