It will all end in flames
Newsmax CEO Christopher Ruddy said Tuesday that though his company's debut on the New York Stock Exchange, with a 1,564% surge in share prices in two days, is "pretty significant," he remains focused not on the share price but on the growing the news operation. "Some people are saying we broke recent records [for the] New York Stock Exchange," Ruddy told "The Record With Greta Van...
Continue Reading on http://www.newsmax.com/The investment banker who handled Newsmax's IPO and listing said Tuesday he has "never seen anything like" Newsmax's debut on the New York Stock Exchange, describing the news organization's first day as a publicly traded company as simply exhilarating. Mark Elenowitz, managing director of Digital Offering LLC said the NYSE listing Monday "really shows the power and the commitment of all the...
Continue Reading on http://www.newsmax.com/Newsmax's debut on the New York Stock Exchange (NMAX) on Monday caught the attention of major media around the globe after its stock price rose over 700% in its first day of trading. Shares of Newsmax, which were priced at a flat $10 for its initial public offering, found eager buyers as its shares started trading early Monday at around $14 a share. But what happened in the ensuing hours...
Continue Reading on http://www.newsmax.com/Newsmax is poised for significant growth and is already a major media player, Newsmax CEO Christopher Ruddy told CNBC's "Squawk Box" Monday morning. "I'm running Newsmax, which is not far behind CNN at about $200 million a year in revenues and expenses," Ruddy said. He noted that at the same time "CNN's spending billions and billions, so there must be tremendous fat in all these...
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