A US stock that went live two days ago generated more than 2,000% returns becoming a multibagger this week. Investors who brought the IPO last month saw their portfolios swell to unimaginable heights in just two days. The golden opportunity looks like a once-in-a-lifetime moment where a small invested amount could turn massive. The larger-than-life returns have surprised the markets with investors making a beeline to buy the asset.

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Newsmax (NMAX) Turns Multibagger US Stock

Source: Pavlo Gonchar /SOPA Images / LightRocket / Getty Images

Leading media outlet Newsmax (NMAX) launched an Initial Public Offering (IPO) for $10. The conservative news outlet recorded a massive surge in investments making its IPO go sold out. After it made its debut in the stock market on Monday, its price dramatically soared spiking triple-digits in the charts.

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Investors who brought the IPO and loaded it in their wallets saw their portfolios rise to massive heights. Newsmax went from $10 on Monday to a high of $233 on Tuesday’s closing bell. In just two trading sessions, the multibagger US stock NMAX soared 2,230% in value.

Traders who invested $1,000 in the IPO made $23,300 in only two trading sessions in Newsmax. The multibagger US stock delivered major gains as its market cap breached the $20 billion mark. It raised $75 million in its IPO becoming a ‘Class B Common’ stock.

“Today marks a historic milestone for Newsmax as we transition to a publicly traded company,” CEO Christopher Ruddy said. The incredible success is now making investors take entry positions in the multibagger US stock. However, whether the NMAX will soar much higher or drop in value will be decided on Wednesday’s trade.

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Investors are more likely to indulge in profit bookings and sell-offs and take the profits home. If that happens, then the multibagger US stock could experience a crash and turn red in the charts.

  • Newsmax
  • NMAX
  • US Stock Market