Newsmax Stock Breaks Records in Opening Week

Newsmax's stock broke records for initial public offerings in its first week of trading, becoming the first Regulation A+ offering to go directly to the NYSE's Big Board – while captivating the markets with a dizzying valuation.

After trading began Monday just before 11 a.m. ET, Newsmax (NMAX) soon found itself with a share price of $44.30 and a market capitalization of $4.18 billion.

The New York Times marveled that Newsmax's spectacular rise briefly put it at a richer valuation than U.S. Steel...