Newsmax IPO WTF

[Jimmy Higgins]

So yesterday Newsmax IPO started at $10, went up to over $250, then it settled to half of that today. They lost over $70 million or so last year, and aren't they still in a lawsuit with a couple voting machine companies?

 

[Jarhyn]

So yesterday Newsmax IPO started at $10, went up to over $250, then it settled to half of that today. They lost over $70 million or so last year, and aren't they still in a lawsuit with a couple voting machine companies?

Yeah, but the implications is that they are about to be placed as propaganda heads and Trump just issued a pardon to a corporation that developed a money laundering platform, so we can probably expect some more bullshit before long.

 

[Axulus]

It's a combination of MAGA cultists buying it as a good little cult member and opportunists betting that they will be a beneficiary of massive corruption (not a bad bet, really). That's my take on it anyway.

The whole stock market seems to be in a bubble. I can't fathom why it isn't dropping on the incoming stagflation and trade war.

 

[Elixir]

The whole stock market seems to be in a bubble. I can't fathom why it isn't dropping on the incoming stagflation and trade war.

It already did. The notion that prices reflect current sentiment is a little misguided. In general, current prices reflect investors’ predictions of future sentiment. Right now prices are dropping only slightly as the prospects of Trump changing his mind about implementing tariffs in the near future fades.

 

[Jimmy Higgins]

The market is waiting. The market generally has been reactive to actions by Trump on trade, not threats. They are hoping this, whatever it is, doesn't happen.

 

[Elixir]

The market generally has been reactive to actions by Trump on trade, not threats.

That is not normal but has become increasingly the case due to Trump’s fickle nature and his on again-off again vacillations on tariffs.

 

[laughing dog]

So yesterday Newsmax IPO started at $10, went up to over $250, then it settled to half of that today. They lost over $70 million or so last year, and aren't they still in a lawsuit with a couple voting machine companies?

This is just confirmation of PT Barnum's observation of "There's a sucker born every minute, and two to take him."

 

[Jimmy Higgins]

I thought the stock market intervened on massive hikes and drops of a company.

 

[Axulus]

Couldn't help but laugh with glee. Those dumb motherfuckers that voted for him, enjoy your Trumpcession. These rates are higher than Smoot-Hawley that preceeded the great depression, at a time when imports are also 3x what they were as a % of GDP in 1930.