Newsmax (NYSE:NMAX) Shares Down 1.9% - Should You Sell?

Newsmax Inc. (NYSE:NMAX - Get Free Report) shares dropped 1.9% on Friday . The stock traded as low as $13.20 and last traded at $12.96. Approximately 499,394 shares traded hands during trading, a decline of 81% from the average daily volume of 2,587,337 shares. The stock had previously closed at $13.21.

Newsmax Trading Down 0.1%

The firm has a 50-day simple moving average of $21.07.

Newsmax (NYSE:NMAX - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($0.53) earnings per share for the quarter. The business had revenue of $45.30 million during the quarter.

Institutional Trading of Newsmax

Large investors have recently modified their holdings of the stock. Golden State Wealth Management LLC acquired a new position in shares of Newsmax during the 1st quarter valued at $39,000. CWM LLC bought a new stake in Newsmax in the first quarter valued at $47,000. Allworth Financial LP acquired a new position in shares of Newsmax during the first quarter valued at about $89,000. Woodard & Co. Asset Management Group Inc. ADV bought a new position in shares of Newsmax during the 1st quarter worth about $217,000. Finally, Sassicaia Capital Advisers LLC bought a new position in shares of Newsmax during the 1st quarter worth about $309,000.

About Newsmax

Newsmax Inc is a holding company that owns 100% of the equity interests of its operating company Newsmax Media, Inc (“Newsmax Media”). Newsmax Media and its subsidiaries operate the businesses described in this Offering Circular. Newsmax Media has six wholly-owned subsidiaries: Newsmax Broadcasting, LLC, a Florida limited liability company (“Newsmax Broadcasting”), Crown Atlantic Insurance, LLC, a Florida limited liability company (“Crown Atlantic”), Humanix Publishing, LLC, a Florida limited liability company (“Humanix Publishing”), Medix Health LLC, a Florida limited liability company (“Medix Health”), ROI Media Strategies, LLC, a Florida limited liability company (“ROI Media Strategies”), and Newsmax Radio LLC, a Florida limited liability company (“Newsmax Radio,” and together with Newsmax Media, Newsmax Broadcasting, Crown Atlantic Insurance, Humanix Publishing, Medix Health, and ROI Media Strategies, the “Subsidiaries”).

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