Newsmax Stock Soars After IPO

Newsmax, a conservative cable channel, saw its stock soar over 60% in afternoon trading after a successful IPO on the New York Stock Exchange. The company's founder and CEO, Christopher Ruddy, became a billionaire following the IPO.

Newsmax's IPO Success

Newsmax's stock price soared following a successful IPO, turning founder Christopher Ruddy into a billionaire. Despite the network's financial struggles, the stock price continued to rise significantly.

Yahoo's Turnaround with AI Focus

Yahoo, once a major internet company, is undergoing a turnaround led by CEO Jim Lanzone, focusing on leveraging AI in key products like Yahoo Finance and Sports. The company has divested underperforming units, made strategic acquisitions, and brought in top talent. Yahoo is betting big on AI, with initiatives like acquiring Artifact, an AI-powered news aggregator, and plans to reinvent Yahoo Finance using AI. The company is considering potential paths forward, including an acquisition, IPO, or remaining private.

Impact of de minimis loophole closure on Shein's valuation and IPO plans

Shein is facing a significant drop in valuation for its London stock market listing due to the closure of the de minimis loophole by President Trump, which allowed small import shipments to evade duties. This change may impact Shein's profitability and IPO plans in London.

Newsmax's IPO Bid Amid Defamation Lawsuits

Newsmax is facing defamation lawsuits and financial losses, so they are attempting to raise $225 million through an IPO to stay afloat. The network has not been profitable since 2021 and is promoting the offering aggressively to potential investors.