Newsmax (NYSE:NMAX) Shares Gap Down – Should You Sell?

Newsmax (NYSE:NMAX) shares gapped down before the market opened on Monday . The stock had previously closed at $25.50, but opened at $24.50. Newsmax shares last traded at $23.27, with a volume of 406,545 shares traded.

Newsmax Stock Performance

Institutional Trading of Newsmax

An institutional investor recently bought a new position in Newsmax stock. Flagship Harbor Advisors LLC purchased a new stake in shares of Newsmax (NYSE:NMAX) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,600 shares of the company’s stock, valued at approximately $551,000.

About Newsmax

Newsmax Inc is a holding company that owns 100% of the equity interests of its operating company Newsmax Media, Inc (“Newsmax Media”). Newsmax Media and its subsidiaries operate the businesses described in this Offering Circular. Newsmax Media has six wholly-owned subsidiaries: Newsmax Broadcasting, LLC, a Florida limited liability company (“Newsmax Broadcasting”), Crown Atlantic Insurance, LLC, a Florida limited liability company (“Crown Atlantic”), Humanix Publishing, LLC, a Florida limited liability company (“Humanix Publishing”), Medix Health LLC, a Florida limited liability company (“Medix Health”), ROI Media Strategies, LLC, a Florida limited liability company (“ROI Media Strategies”), and Newsmax Radio LLC, a Florida limited liability company (“Newsmax Radio,” and together with Newsmax Media, Newsmax Broadcasting, Crown Atlantic Insurance, Humanix Publishing, Medix Health, and ROI Media Strategies, the “Subsidiaries”).