In a stunning turn of events, conservative media outlet Newsmax has seen its stock value skyrocket by over 2,200% since its debut on the New York Stock Exchange this past Monday. Originally priced at $10 per share, the stock soared to an astounding $233 by the end of Tuesday's trading, catapulting the company's market valuation to nearly $30 billion. This meteoric rise has placed Newsmax above industry giants such as Fox Corp, Warner Bros Discovery, and Paramount Global, making waves across the media landscape.

Founded in 1998 as an online media platform, Newsmax launched its cable news channel in 2014. Its rapid ascent in the stock market has been bolstered by its perceived alignment with former President Donald Trump. The controversial yet powerful endorsements from Trump, who expressed dissatisfaction with Fox News, have contributed significantly to the outlet's rise, cementing its position as a favored news source among Trump's supporters.

Newsmax's founder and CEO, Christopher Ruddy, has reportedly seen his net worth balloon to over $9 billion following the stock's surge. Analysts suggest that the sharp increase in share prices is being driven largely by retail investors, evoking memories of the GameStop phenomenon, where individual investors rallied to push the stock's price up dramatically.

Retail trading has become a significant part of the market dynamics, particularly since the pandemic began. This shift toward more accessible investment options has led to an increase in so-called 'meme stocks,' characterized by price surges driven not just by fundamentals but by social media buzz and collective investor sentiment.

Interestingly, this rapid growth has come despite Newsmax's recent legal challenges. Earlier this month, the network agreed to pay $40 million to settle allegations that it defamed voting machine manufacturer Smartmatic by making false claims related to the 2020 election. The legal battles, however, have not dampened the enthusiasm of retail investors, who seem energized by the company’s bold stance in the media world.

Furthermore, Newsmax is not alone in its rise; it joins a growing list of conservative-aligned companies entering the stock market, like the Canadian video platform Rumble Inc. and Trump Media & Technology Group, which is affiliated with Trump's political brand.

As the media landscape continues to evolve, the astonishing rise of Newsmax serves as a reminder of the power of strategic political endorsement and the increasing influence of retail investors. Experts are keenly watching how this surge will impact traditional media companies and what it means for the future of news consumption in the United States.