Conyers Investments LLC, a director and 10% shareholder of Newsmax Inc., sold 32,416 shares of Class B common stock on August 21, 2026, for approximately $357,321 at a price of $11.023 per share.
The disposal follows a 79% increase in Newsmax’s stock price over the past six months, with shares last trading at $10.47. The company’s market capitalization stands at $1.41 billion, though InvestingPro analysis flags the stock as among the most overvalued relative to its fair value estimate.
Newsmax reported its first quarterly profit since going public in the second quarter of 2026. Net income reached $2.9 million, or $0.02 per share, a sharp turnaround from a $75.2 million loss in the same period a year earlier. Revenue rose 16.5% year-over-year to a record $54.1 million, driven by stronger top-line performance and improved cost management.
Conyers Investments retained 22,762,939 Class B shares of Newsmax following the transaction.
