Newsmax's IPO Boom; J&J Falls on Ruling; Tesla in the Green

On this episode of Stock Movers:
- Newsmax (NMAX) shares popped after opening 40% above their initial public offering price of $10 apiece, before triggering a halt for volatility. The cable news network raised $75 million from the sale of 7.5 million shares, according to a statement Mar. 28, and its IPO has given founder and CEO Christopher Ruddy a fortune of about $3.3 billion after its shares surged 735%.
- Johnson & Johnson (JNJ) is falling after a federal judge rejected the health-care products maker’s third attempt to use bankruptcy of one of its small units to end baby powder cancer claims. Analysts said that this added to the overhang on the shares given the uncertainty over how it will deal with the claims.
- Tesla (TSLA) shares are up premarket after the stock closed with a loss Monday and ended the first quarter down 36%. It comes as other Magnificent 7 stocks decline and after reports of more negative sales news out of Europe: Tesla car sales in France plunged 37% in March.
- Live Nation (LYV) shares are down after President Trump signed an executive order cracking down on ticket scalping.

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