Newsmax Stock Plummeted Today -- Is This a Buying Opportunity?

Newsmax (NYSE: NMAX) got hit with another day of steep sell-offs Thursday amid macroeconomic turbulence and an unfavorable court ruling. The company's share price ended the daily session down 26.8%.The S&P 500 index fell 3.5% today as investors reacted to new tariffs on China that were even higher than expected. Newsmax's valuation also faced negative pressure from a court ruling that the company had published defamatory statements against Dominion Voting Systems.A Delaware Superior Court judge ruled that Dominion presented convincing evidence that Newsmax had made false statements about Dominion's machines being used to forge or alter votes in the 2020 elections. Following today's sell-off, Newsmax stock is now down 69.5% from market close on the day of its initial public offering (IPO) at the end of March.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool