Newsmax's IPO Boom; J&J Falls on Ruling; Tesla in the Green
On this episode of Stock Movers:- Newsmax (NMAX) shares popped after opening 40% above their initial public offering price of $10 apiece, before triggering a halt for volatility. The cable news network raised $75 million from the sale of 7.5 million shares, according to a statement Mar. 28, and its IPO has given founder and CEO Christopher Ruddy a fortune of about $3.3 billion after its shares surged 735%.- Johnson & Johnson (JNJ) is falling after a federal judge rejected the health-care products maker’s third attempt to use bankruptcy of one of its small units to end baby powder cancer…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.