Why Is Newsmax Stock Dropping Despite Soaring Viewership?
1. NMAX plummeted over 11%, 70% down from its IPO price. 2. Revenue increased by 12%, but net losses rose to $17.2 million. 3. Legal risks from Dominion’s lawsuit pose existential threat. 4. High valuation at 16.3 price-to-sales ratio raises investor concerns. 5. Viewership is up 50%, yet profitability remains elusive.