Key Takeaways Shares of conservative news channel Newsmax more than doubled in intraday trading Tuesday, putting the stock 2,000% above its IPO price.The stock soared 735% during its first day of trading Monday,

Newsmax saw its valuation soar to about $8 billion, double that of Trump Media & Technology Company, and about a third of Fox Corp's valuation.

Newsmax's stock price jumped another 50% higher on Tuesday morning, one day after the right-leaning media company saw its share price run from $10 to $83 during its Wall Street debut. The 50% increase in early-trading on Tuesday pushed Newsmax,