Why Newsmax Stock Surged 15% Higher Today

On a rather forgettable Monday for the stock exchange, the performance of media company Newsmax (NYSE: NMAX) was exceptional. On news that it had settled a high-profile lawsuit, relieved investors piled into the stock to lift it to a 15% gain on the day. This made it quite the outlier, as the S&P 500 index essentially closed flat that trading session. That morning, Newsmax announced that it had reached a settlement with Dominion Voting Systems, which in 2021 brought a defamation lawsuit against the company. Dominion accused Newsmax of making defamatory statements about its business, particularly in connection with its involvement in the 2020 presidential election. The settlement amount is $67 million. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool