Why Newsmax Inc. (NMAX) Skyrocketed On Monday?

We recently published a list of Biotech Stocks Dominate Monday’s Top 10 Gainers. In this article, we are going to take a look at where Newsmax Inc. (NYSE:NMAX) stands against other biotech stocks that dominate Monday’s top gainers.

The stock market kicked off the shortened trading week on a positive note, with Wall Street’s major indices finishing in the green following President Donald Trump’s temporary tax reprieve on technology companies.

The S&P 500 recorded the highest gain, up 0.79 percent, while the Dow Jones came second at 0.78 percent. The tech-heavy Nasdaq was also up by 0.64 percent.

Benchmark indices aside, 10 companies dominated by biotechnology firms mirrored the broader market optimism, recording modest gains during the session.

In this article, let us explore Monday’s top 10 gainers and the reasons behind their gains.

To come up with the list, we only considered the stocks with $2 billion market capitalization and $5 million trading volume.

Newsmax Inc. (NYSE:NMAX)

Newsmax Inc. snapped a six-day losing streak on Monday, adding 13.79 percent to end at $26 apiece as investors resorted to bargain-hunting following a steep drop in its share prices.

Since debuting on the stock market two weeks ago, the company’s stock price has already fallen by 88 percent from its highest price of $233.

Last week’s decline, however, was largely influenced by a Delaware Judge’s ruling against NMAX, saying that it published defamatory and false statements versus Dominion Voting Systems of rigging the 2020 election.

The ruling was a partial victory for Dominion in its $1.6 billion defamation lawsuit. A new round of trial is expected to begin on April 28.

In recent news, NMAX announced that its viewership jumped by 50 percent year-on-year to 33.6 million from 22.4 million in the same period last year.

First-quarter ratings this year also saw a healthy 15-percent increase from the fourth quarter of 2024 when 29.3 million viewers tuned in.

Overall, NMAX ranks 2nd on our list of biotech stocks that dominate Monday’s top gainers. While we acknowledge the potential of NMAX as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than NMAX but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.