Why Newsmax Stock Sank 17.4% Last Month, but Has Inched Higher in July

Newsmax (NYSE: NMAX) stock got hit with another surge of sell-offs in June despite strong gains for the broader market. The company's share price fell 17.4% in the month, according to data from S&P Global Market Intelligence. For comparison, the S&P 500 (SNPINDEX: ^GSPC) gained 5% in the period.Newsmax stock lost ground after the company issued business updates and new forward performance guidance for this year. While the broader market rallied on signs that the Federal Reserve may issue more interest rate cuts this year than previously anticipated, the bullish macroeconomic catalyst wasn't enough to prevent a big dip for the media specialist's share price.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool