Newsmax Reveals Bitcoin, Trump Meme Coin Treasury [Yahoo! Finance]
Newsmax, Inc. Class B (NMAX)
Company Research
Source: Yahoo! Finance
The company's board of directors approved the plan, which will see it acquire up to $5 million of the two assets in total over the next year, according to a company announcement on Thursday. “??Bitcoin is fast becoming the gold standard of cryptocurrency, and we believe it would be an important company marker to add this asset to our company reserves," Newsmax CEO Christopher Ruddy said in a statement. "We are also excited to add Trump Coin to our cryptocurrency plan,” he added, “as we believe the coin's value should track the success of the Trump presidency, which so far has been impressive.” Details about how the firm will fund the initiative were not revealed, but it expects to make the first strategic purchase “in the near future.” Shares of Newsmax, which trade on the New York Stock Exchange with ticker NMAX, dropped around 4% today to $10.83 as broader markets slid amid increased macro volatility. However, shares are up more than 4% in after-hours trading, according to
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- Newsmax (NYSE:NMAX) had its "sell (d-)" rating reaffirmed by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>.MarketBeat
- Newsmax (NYSE:NMAX) had its "sell (d-)" rating reaffirmed by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>.MarketBeat
- Newsmax (NYSE:NMAX) had its "sell (d-)" rating reaffirmed by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>.MarketBeat