Better Alternative Media Stock: Newsmax vs. Reddit
Newsmax (NYSE: NMAX) and Reddit (NYSE: RDDT) are both growing in popularity as alternative news platforms. Newsmax, which operates linear and streaming TV channels, promotes itself as an alternative to mainstream conservative outlets like News. Reddit blends social media, news aggregation, and discussion forum features -- so trending news stories often drive more users to its platform.
Newsmax went public this past March at $10 a share. It skyrocketed to a record high of $233 the following day -- mainly due to its close association with President Donald Trump and a tight supply of its IPO shares -- but it now trades at $8. Reddit went public at $34 last March, soared to a record high of $270.71 this September, and pulled back to around $208 currently.
Image source: Getty Images.
Source Fool.com
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