(Bloomberg) — Newsmax Inc. (NMAX) shares skyrocketed as much as 667% in their debut trading session after a $75 million initial public offering brought the conservative media outlet onto the New York Stock Exchange.

The stock traded at $62.27 each at 12:07 p.m. in New York, in a debut that saw shares repeatedly halted for volatility. The company raised $75 million in the offering, selling 7.5 million shares for $10 apiece.

The trading gives Newsmax a market value of about $8 billion, based on the outstanding shares listed in a US Securities and Exchange Commission filing.

NYSE - Nasdaq Real Time Price•USD

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The spike came as more than 3 million shares changed hands. Company share prices can be volatile in their debut sessions given a lack of liquidity and potentially pent-up demand — that’s the case particularly in smaller IPOs or for companies with less scale.

The company previously completed a private preferred offering in February 2025, raising $225 million.

Newsmax settled a defamation lawsuit with Smartmatic Corp. over broadcasts claiming that the voting technology company rigged the 2020 presidential election against Donald Trump, according to an announcement in September.

The offering was led by Digital Offering LLC, the filing shows. Newsmax shares trade under the symbol NMAX.

(Updates throughout with latest trading. A previous version of the story corrected the share price in second paragraph.)

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