Newsmax went public this week, and the low volume of shares available to trade has exacerbated the impact of high demand, sending the stock soaring.

Shares of the media company were recently off some 65% to $80, plummeting in their third session as a publicly traded company. Newsmax ( NMAX) went public Monday —its IPO price was $10, and it opened at $14—to kick off a dramatic upward run. The stock finished yesterday at $233 after slipping from intraday highs of $265.

Loyal Newsmax viewers who listened to the channel’s entreaties last year and lined up to buy $10-per-share stakes in the company are feeling pretty rich right about now. Those shares are currently worth more than $130 each.

(Reuters) -Shares of conservative news outlet Newsmax soared more than 27% before the bell on Tuesday, extending their gains a day after a stunning debut on the New York Stock Exchange. The stock traded at $106,

By Zaheer Kachwala and Medha Singh (Reuters) -Shares of conservative news outlet Newsmax soared more than 60% on Tuesday, extending their eye-popping gains a day after a stellar debut on the New York Stock Exchange.

Newsmax shares soared for a second day after their public debut, as the conservative news channel gains traction during President Donald Trump's second term.