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Newsmax Inc. (NASDAQ:NMAX) shares are trading higher on Monday after the company announced it had settled its defamation lawsuit against Dominion Voting Systems.
NMAX is surging to new heights today. Check the fundamentals here.
What To Know: The company disclosed in a filing that Newsmax will pay $67 million to Dominion as part of the settlement, with payments to be made in installments over three fiscal years. Newsmax said it expects to fund the settlement through revenues.
Dominion filed the lawsuit in 2021, originally seeking $1.6 billion in damages. Newsmax said it chose to settle after determining it would not receive a fair trial under rulings made by the Delaware Superior Court.
"With these matters resolved, Newsmax is positioned to continue its mission: delivering accurate reporting, fostering vigorous debate, and ensuring Americans have access to diverse viewpoints," the company said.
Besides going to a brokerage platform to purchase a share — or fractional share — of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For Newsmax, it is in the Communication Services sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
NMAX Price Action: Newsmax shares closed Monday up 14.74% higher at $13.93, according to data from Benzinga Pro.
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