Investment website The Motley Fool's stock prices plummet by 80% after a brief but intense 48-hour rally.

Conservative cable channel Newsmax's shares plunge more than 70% after dizzying 2-day surge

Newsmax, a conservative cable channel, saw its shares plummet more than 70% on Friday after a dizzying two-day surge that saw its stock price more than quadruple.

The company's stock, which had traded as low as $2.50 per share just two days prior, surged to as high as $11.50 per share on Thursday, a gain of more than 360%. However, on Friday, the stock price plummeted to around $3.20 per share, a decline of more than 72%.

The wild swings in Newsmax's stock price come as the company has seen a surge in popularity following the 2024 presidential election. The channel, which is known for its conservative leanings, has seen a significant increase in viewership and has become a popular destination for those looking for alternative news sources.

The company's stock price surge was driven in part by a surge in viewership and a growing reputation as a credible source of news. However, the stock's sudden decline has raised concerns among investors and analysts about the sustainability of the company's growth.

Newsmax's stock price decline comes as the company faces increased competition from other conservative media outlets, such as Fox News and One America News. The company's stock price has also been impacted by concerns about the sustainability of its growth and the potential for a decline in viewership following the presidential election.

Despite the decline in its stock price, Newsmax remains a popular destination for conservative viewers and has seen a significant increase in viewership. The company's stock price may continue to be volatile in the coming days and weeks, but it remains to be seen whether the company can sustain its growth and maintain its popularity.