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| Version 1 | Version 2 |
|---|---|
| Newsmax: Trump-endorsed news outlet sees 2,200% share surge | Newsmax: Trump-endorsed news outlet sees 2,200% share surge |
| (about 4 hours later) | |
| Newsmax made its debut on the New York Stock Exchange on Monday | Newsmax made its debut on the New York Stock Exchange on Monday |
| Conservative TV company Newsmax has seen its stock market valuation surge by more than 2,200% since its debut in New York on Monday. | 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, stood at $233 at the end of Tuesday's trading session. | The US firm's shares, which were originally priced at $10 (£7.75) each, stood at $233 at the end of Tuesday's trading session. |
| That means it has a market value of almost $30bn, which surpasses Fox Corp - the owner of rival Fox News - and other media giants Warner Bros Discovery and Paramount Global. | That means it has a market value of almost $30bn, which surpasses Fox Corp - the owner of rival Fox News - and other media giants Warner Bros Discovery and Paramount Global. |
| Newsmax is seen as friendly to US President Donald Trump and was promoted by him during his first term in the White House. | Newsmax is seen as friendly to US President Donald Trump and was promoted by him during his first term in the White House. |
| The share price surge has made Newsmax's founder and chief executive Christopher Ruddy one of the richest people in the US, with a net worth of more than $9bn, according to the Bloomberg Billionaires Index. | The share price surge has made Newsmax's founder and chief executive Christopher Ruddy one of the richest people in the US, with a net worth of more than $9bn, according to the Bloomberg Billionaires Index. |
| Analysts said retail investors drove gains, drawing comparisons to the soaring price of GameStop. | Analysts said retail investors drove gains, drawing comparisons to the soaring price of GameStop. |
| The video game retailer's popularity among some investors during the pandemic helped coin the idea of meme stocks. | The video game retailer's popularity among some investors during the pandemic helped coin the idea of meme stocks. |
| The meme-stock phenomenon was part of a wider increase in trading by retail investors - people not working for investment houses or other private firms. | The meme-stock phenomenon was part of a wider increase in trading by retail investors - people not working for investment houses or other private firms. |
| Newsmax was founded in 1998 as an online platform. It launched its cable news channel in 2014. | Newsmax was founded in 1998 as an online platform. It launched its cable news channel in 2014. |
| Its ratings were boosted in 2020 when it was endorsed by Trump, who had become increasingly angry at Fox News. | Its ratings were boosted in 2020 when it was endorsed by Trump, who had become increasingly angry at Fox News. |
| Mr Ruddy, who is a friend of Trump, insisted at the time that he did not want Newsmax to become "Trump TV". | |
| Earlier this month, Newsmax paid $40m to settle allegations that it defamed voting machine company Smartmatic by reporting false claims that it helped rig the 2020 election for Joe Biden. | Earlier this month, Newsmax paid $40m to settle allegations that it defamed voting machine company Smartmatic by reporting false claims that it helped rig the 2020 election for Joe Biden. |
| It is the latest company with ties to conservatives to start selling shares on the stock market, joining Canada-based video platform Rumble Inc and President Trump's media venture, Trump Media & Technology Group. | It is the latest company with ties to conservatives to start selling shares on the stock market, joining Canada-based video platform Rumble Inc and President Trump's media venture, Trump Media & Technology Group. |