Newsmax (NYSE:NMAX) Stock Price Up 8.8% - Time to Buy?

Newsmax (NYSE:NMAX - Get Free Report)'s stock price shot up 8.8% during mid-day trading on Tuesday . The stock traded as high as $23.36 and last traded at $23.64. 725,367 shares were traded during trading, a decline of 87% from the average session volume of 5,383,941 shares. The stock had previously closed at $21.73.

Newsmax Stock Performance

Hedge Funds Weigh In On Newsmax

A hedge fund recently bought a new stake in Newsmax stock. Golden State Wealth Management LLC acquired a new stake in shares of Newsmax (NYSE:NMAX - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 468 shares of the company's stock, valued at approximately $39,000.

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”).