Newsmax
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I call BS on Newsmax’s initial stock…
I call BS on Newsmax’s initial stock purchase offering. It was originally capped at $100,000,000.00 and is only open to people worth a million or with an income of $200,000.00+ who will receive a 25% discount and a 7% dividend. (In other words, only wealthy people can invest early to get discounts and dividends.) So, all of us middle—and low-income people who represent 95%+ of Newsmax’s viewing audience must wait for the Initial Public Offering (IPO) to buy our stocks at full price with no dividend. They have extended their cap to $150,000,000.00 and now to $200,000,000.00 for the initial wealthy purchasers. In their advertising of this issue, they say it is an SEC rule. If so, they shouldn’t have extended the cap so that middle and low-income buyers would be able to purchase shares at a reasonable price. Another option for Newsmax to be fair would have been to establish a co-op (representing a wealthy investment) whereby all people could pool funds to get the appropriate share of stock with the discount and dividend. I planned to purchase $2,500.00 of their stock but have decided to stay out. Because the wealthy receive their $200,000,000.00 worth of IPO shares at the 25% discount and dividend, which will lower the opening value of Newsmax stocks, only providing immediate profit for the <5% wealthy of Newsmax viewers who will be the shareholders on opening day selling to make an immediate 25%+ profit.