markets

Matt Phillips4/2/25

Newsmax crashes, but still up big from IPO

Gravity reasserted itself on shares of Newsmax after the pro-Trump media company’s remarkable 2,230% gain from its IPO price of $10 a share through its first two days of trading.

The surge briefly gave the company a market cap of roughly $30 billion, eclipsing legacy media companies like Fox and Warner Brothers Discovery.

Even after the early sell-off on Wednesday, Newsmax is up more than 1,100% and has a market cap of more than $11 billion. By comparison, the market cap of the consistently profitable New York Times Co. is less than $9 billion.

It seems some investors are taking part of their winnings off the table, which makes sense given that the company’s latest financial filings show it hasn’t turned a profit over the last few years.

Is Newsmax the Next DJT Stock? Inside the Hottest New MAGA Trade.

Is Newsmax the Next DJT Stock? Inside the Hottest New MAGA Trade.

Even after the early sell-off on Wednesday, Newsmax is up more than 1,100% and has a market cap of more than $11 billion. By comparison, the market cap of the consistently profitable New York Times Co. is less than $9 billion.

It seems some investors are taking part of their winnings off the table, which makes sense given that the company’s latest financial filings show it hasn’t turned a profit over the last few years.

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We’re getting a lot of borrowing, and that borrowing is risk-reducing (for now!)

New York City Architecture And Monuments

Meet the newly public, Bezos-backed company that’s recreating the sun and stars

General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

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markets

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

Floridians Seek Employment Opportunities At Job Fair In Sunrise

Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

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