Digging into FOXA, NMAX, and DJT
Right-leaning stocks have staged notable rallies since President Donald Trump returned to office. Below, let's check in with some of these names -- including Fox Corp (NASDAQ:FOXA), Newsmax (NYSE:NMAX), and Trump Media & Technology Group Corp (NASDAQ:DJT) -- to see how they faring amid his second mandate.
FOXA was last seen 2% higher at $56.96, trading at its highest level in nearly a month as it adds to its 17.3% year-to-date lead. The security yesterday secured a price-target hike from Loop Capital to $62 from $60, and is consolidating above the 40-day moving average after conquering the trendline last week. Longer term, FOXA sports a 83.7% year-over-year lead.
Conservative cable channel Newsmax made its market debut on Monday, with the stock surging over 700%. Shares appear to be correcting some of those gains now, last seen 49.6% lower to trade at $114.15, which is more than 10 times their initial public offering (IPO) price of $10, after yesterday peaking at $264.90.
DJT is down 5.2% at $19.21 at last check, and earlier today fell to a six-month low. Today's bear gap comes after Axios reported the company filed documents with the U.S. Securities and Exchange Commission (SEC) that would allow President Trump's trust to potentially sell $2.3 billion worth of stock. In the last six months, though, the security added over 22%, thanks to post-election and inauguration rallies.