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Donald Trump-Aligned Cable TV Network Newsmax Skyrockets In IPO; Shares Up More Than 700%
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.
- America's powerful National Rifle Association kicked off a major convention in Houston Friday, days after the horrific massacre of children at a Texas elementary school, but a string of high-profile no-shows underscored deep unease at the timing of the gun lobby event. Monday’s price explosion, which triggered multiple halts in trading from the New York Stock Exchange, appeared to be caused by individual and retail investors looking to buy into Trump’s second term. Newsmax founder Chris Ruddy, a longtime friend of Trump’s, has described his news operation as “center-right,” but it has steadfastly backed the president, even when he made false claims about the 2020 election.
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