Why Newsmax Stock Is Surging Today

Newsmax (NYSE: NMAX) stock is seeing another round of significant gains Tuesday. The company's share price was up 9.5% as of 12:45 p.m. ET and had been up as much as 19.1% earlier in the day.

After rising roughly 14% in Monday's trading, Newsmax stock is continuing to move higher in today's session. The stock is seeing some significant recovery after big sell-offs last week, but the gains appear to be primarily driven by meme-stock momentum.

Newsmax plummeted in last week's trading as investors sold the stock, apparently to take profits in reaction to news that Dominion Voting Systems' defamation case against the company is heading to a jury trial. The meme stock is now seeing some rebound momentum.

Source Fool.com