Newsmax, the conservative cable channel, has seen its shares skyrocket over 700% in a stunning debut on the NYSE, making its founder Christopher Ruddy a billionaire overnight. The media company, aligned with Donald Trump, drew comparisons to the GameStop meme stock phenomenon as its market cap soared past $20 billion. After an electrifying first day of trading, the stock surged another 60% overtaking initial valuations, leading to multiple trading halts due to volatility. Investors are keenly watching Newsmax as it becomes the latest sensation among retail traders.