Newsmax Gets Bad News: Is the Stock Poised to Plunge Even More?
Like any news-focused media company, Newsmax (NYSE: NMAX) centers its business on bad news. While many people say they prefer good news, bad news attracts viewers. Those viewers attract advertisers. And advertisers are Newsmax's primary revenue source.However, Newsmax might not report much about the latest not-so-good news that affects its own business. Its share price has already fallen over 70% since the initial public offering (IPO) in March. Is Newsmax stock poised to plunge even more?Delaware Superior Court Judge Eric M. Davis ruled against Newsmax last week in a lawsuit brought Dominion Voting Systems brought against the company. Dominion alleged that Newsmax "published false and defamatory statements" about the voting technology company's role in the 2020 U.S. presidential election. Continue reading
Like any news-focused media company, Newsmax (NYSE: NMAX) centers its business on bad news. While many people say they prefer good news, bad news attracts viewers. Those viewers attract advertisers. And advertisers are Newsmax's primary revenue source.
However, Newsmax might not report much about the latest not-so-good news that affects its own business. Its share price has already fallen over 70% since the initial public offering (IPO) in March. Is Newsmax stock poised to plunge even more?
Delaware Superior Court Judge Eric M. Davis ruled against Newsmax last week in a lawsuit brought Dominion Voting Systems brought against the company. Dominion alleged that Newsmax "published false and defamatory statements" about the voting technology company's role in the 2020 U.S. presidential election.
