Bulwark Takes This Newsmax IPO is Actually Insane
Apr 1, 2025
JVL and Tim Miller dive into the jaw-dropping rise of Newsmax's IPO, questioning how a fringe cable channel could be valued in the billions. They explore its rapid growth fueled by Trump's narrative post-2020 election and the implications for rivals like Fox News. The duo uncovers theories of market manipulation behind the stock surge, spotlighting the wealth transfer benefiting key figures. Their humor shines as they critique corporate integrity amidst the oddities of modern capitalism and the media landscape.
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Newsmax's Insane IPO
- Newsmax, a far-right cable channel, has seen a dramatic increase in its valuation after going public.
- This surge is perplexing given its small revenue, unprofitability, and presence in the declining linear cable sector.
Dying Business Model
- Newsmax's revenue is small, they are unprofitable, and they operate in the dying linear cable industry.
- This combination makes the company's high valuation even more baffling.
Possible Explanations
- Several theories attempt to explain Newsmax's inflated valuation, including market manipulation, a meme stock phenomenon, or even corruption.
- It remains unclear why the stock price has increased so drastically.