Newsmax's stock, trading under the ticker $NMAX, has experienced a dramatic decline since its initial public offering (IPO) last week. After surging to a high of $265 just two days post-IPO, the stock has fallen significantly, closing at approximately $25 on April 10, marking a 27% drop that day. This decline represents an 89% decrease from its closing price of $232.50 on April 1, just before the IPO. Over the past week, $NMAX has seen a cumulative decline of 58.12%, and its overall performance since the IPO remains positive with an 82.50% increase from the offering price of $10. Additionally, shares of fellow MAGA media trade $DJT have also declined, falling 7% on the same day as Newsmax's drop.