Shares of conservative cable channel Newsmax soar another 40% after massive debut
1. Newsmax shares surged over 700% on debut, closing at $83.51. 2. Shares increased by over 40% in early trading Tuesday. 3. Newsmax is now the fourth most-watched cable news channel. 4. The cable industry struggles as consumers prefer streaming services. 5. Viewership remains significantly lower than that of Fox News.