Newsmax (NMAX -11.02%) experienced significant sell-offs on Friday, with its stock price dropping 10% despite gains in the S&P 500 and Nasdaq Composite. The company announced a multiyear contract renewal for The Record With Greta Van Susteren, which was a potentially positive development, but it failed to support the stock price amid concerns over fading meme momentum. With a market cap of approximately $2.94 billion and a $72 million net loss last year, investors remain cautious about future growth, particularly with the upcoming 2024 elections.
