Newsmax's stock took flight immediately following its IPO, soaring as much as 2,230% by Tuesday. Yesterday, however, shares of Newsmax plummeted 77%.

Cable news outlet Newsmax posted staggering gains since its IPO debut on Monday, drawing comparisons to Trump Media & Technology Group. Both companies have high valuations despite

A destination for political conservatives, the Boca Raton, Fla.-based news operation surges after its initial public offering.

Shares of the media company were recently off some 40% to $140, plummeting to start their third day of trading. Newsmax ( NMAX) went public Monday —its IPO price was $10, and it opened at $14—to kick off a dramatic upward run. The stock finished yesterday at $233 after slipping from intraday highs of $265.

Conservative news network Newsmax (NMAX) crashed 77.5% on Wednesday, cutting short its explosive post-IPO run. The stock had soared 2,230% in

Newsmax's share price soared when it started trading Monday on the New York Stock Exchange under the ticker "NMAX."

Newsmax, a conservative media company, became a meme stock after its IPO skyrocketed by 2,190%, bringing its market valuation to over $20 billion.

Newsmax (NMAX) shares bounced Thursday, turning positive after first extending their retreat from post-IPO highs. The self-described conservative media company went public Monday, kicking off a whirlwind week of trading.

Shares of Newsmax dropped ahead of their third trading day after surging in their debut. The stock was down 23% at $179 in premarket trading. Shares debuted with an initial public offering price of $10 each and soared in their first two days on the market,