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Stock Movers: Newsmax Surges, Ruling Sinks J&J, Trump Order Hits Live Nation
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April 1, 2025
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• 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 from March 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 declined after a federal judge rejected the health-care products maker’s third attempt to use the bankruptcy of one of its smaller business units to end litigation surrounding baby powder cancer claims. Analysts said this added to the existing overhang on the company's shares.
• Live Nation (LYV) shares took a hit after President Donald Trump signed an executive order cracking down on ticket scalping and fees that drive up the costs of attending live events for consumers. The order directs the Federal Trade Commission and other agencies to ensure competition laws are enforced, promote price transparency, and prevent ticket resellers from gouging consumers.
• Microvast Holdings (MVST) jumped as much as 56% in US premarket trading after the lithium-ion battery maker reported 2024 revenue that beat its guidance thanks to growing demand for its technology.
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