JVL and Tim Miller are losing their minds over Newsmax’s absurd IPO explosion. How in the hell is a fringe cable channel worth billions? And who is actually getting rich from this?
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The argument that "capitalism has benefited more people" requires the caveat that it requires control on how wealth aggregates as without control wealth aggregates at the top. No civilization that had no control on wealth had a middle class to speak of because it doesn't trickle down. It was our income tax with high upper marginal rates that created our inclusive and extensive middle class that GOP reductions in those rates have been eroding and increasing the gap between the top and the middle and lower classes.
Down 70% on Wednesday. Trading halted.
I had access to the IPO (just by chance) and I was like, "Why would I touch this?"
Missed out on the pop. Lol
So should I buy it on today's dip? ;-)
wen Bulwark shitcoin
Corruption and/or money laundering.
Newsman and most right wing media is the equivalent of National Enquirer of yesteryear.
“Three steps above Wayne’s World” is all you need to know. This should be the title of their prospectus.
💎🤜🚀🌕 zOMGz DIAMOND HANDS BULWARK IPO STONK!!1 💎🤜🚀🌕
Get your puts ready. This thing is going to tank and, once again, MAGA rank and file will be holding the bag
I no longer watch TV or CABLE. I am on YOU TUBE and BULWARK is my Go To destination. THANK YOU to all of you. Such a great resource!
US is becoming just another corrupt dictatorship! How Americans thought having a bankrupt orange convicted felon as POTUS would help the average guy is beyond me!
As JVL says, Good Luck America!!!
It's Russian payback for services rendered.
JVL, I am a huge fan. But the profound insult you just leveled at Wayne's World pains me. You are not worthy!
Come on get with the plan Tim/JVL.
Some one is pumping it at the moment (and cleaning house). And at the same time whoever it is is quitely shorting it (and is gonna clean house again).
It’s gotta be a pump and dump.
You're right, this has "rug pull" written all over it
Newsmax market cap is currently higher than News Corp
Don't do it! Remain private! Public investment would make the name of the network into a sad joke.
The Wisconsin Supreme Court seat is a blow out win for the Democrats, they just called it
Yes Tim Join US!!! I'm a Bernie/Bulwark American!!! APRIL 5TH!!!
Well, I guess we can add this to the list of things I should have thrown $5k into instead of a Disney vacation. 😐
You could still short sell it.
Alas, I'm illiquid. ¯\_(ツ)_/¯
I'm just saying... After a cursory Google search, there doesn't seem to be a JVL ticker on the New York Stock Exchange...
March 13 (Reuters) - Cable outlet Newsmax Media has paid $40 million to settle allegations it defamed Smartmatic by reporting false claims that the voting machine company helped rig the 2020 U.S. election for Joe Biden over Donald Trump, according to a regulatory filing.
The companies settled privately last year, but the amount was disclosed in a Newsmax investor document dated March 7.
I’d pay for you guys!! You are so great…. Love reading and watching all of you!
So, buy a bunch of 3 to 6 month put options and let it ride?
Who TF underwrote the IPO? What liability limits did they buy? Lord mercy.
Talk about laundering money reminds me of laundering facts and Signalgate. One of my "In the know" kids ran into someone, maybe at a party, who said drug people use the Signal app to communicate BECAUSE all incriminating messages can be set to SELF-DELETE. WHOA.
Did I misunderstand the guy from atlantic monthly, who took incriminating screenshots? Didn't he say he caught one in the meeting setting delete times???? Not sending everything to the national archives or whoever tracks classified stuff?
Yes, it was the WSJ that reported on Mike Waltz routinely using Signal and its auto delete feature to discuss highly sensitive information. In addition to being a violation of the PRA and FOIA, it’s also a potential violation of the Espionage Act, depending on whether the material discussed is classified or highly sensitive. Here’s my original post:
Good talk guys, but FYI, on another note, SignalGate, the WSJ just posted an article that confirmed what Sarah, I think, wondered aloud in an earlier pod, ie, just how many times has this WH administration used Signal to discuss sensitive issues and broken the various records keeping laws (or possibly the Espionage Act). The answer is many times, and always initiated by Mike Waltz.
“… Two U.S. officials also said that Waltz has created and hosted multiple other sensitive national-security conversations on Signal with cabinet members, including separate threads on how to broker peace between Russia and Ukraine as well as military operations. They declined to address if any classified information was posted in those chats.”
“Mike Waltz Is Losing Support Inside the White House”, WSJ, 3/30/25
https://apple.news/AmZUFqGKORUa3vQK_wKaimQ
The auto delete feature of Signal is something everybody familiar with these apps knows about. I talked with a local Fox News channel reporter (not the big Fox News, just the local station in my city) and he told me that he, a Fox reporter, is not allowed to use Signal in his job (interviewing people, gathering facts, doing research) precisely because of the auto delete feature (if you don’t select a delete time, the app has a default delete time, so the chat will be deleted no matter what). Indeed, the Fox reporter told me that if his bosses ever found out he had used Signal, he would be FIRED.
Second, that same local Fox reporter told me that he and his station are entitled to ask for and receive any unclassified, non-sensitive texts in a chat between government officials under the Freedom of Information Act (FOIA), and therefore it’s a criminal offense and a violation of FOIA for these guys to be doing government business on an app that deletes the text messages. It’s also a criminal offense and a violation of the Presidential Records Act (PRA) to use an auto delete app (the PRA requires all these type conversations to be preserved for future reference, basically forever). A young Fox News local reporter knows this.
Third, this is not the first time that this particular group of fools led by Mike Waltz has done this, ie, conduct official government business on Signal. I have posted elsewhere in The Bulwark that another news outlet (the WSJ?) was told by 2 WH sources that Waltz has initiated multiple group chats with these same guys in Signal and deleted them all. It’s how they do things, a routine procedure. SignalGate should be exploding in the headlines with all sorts of Congressional hearings, firings, and resignations. The horror is why isn’t it?
Wow. Very interesting about local Fox, that they'd get fired if they used Signal. Why doesn't national fox bring it up.
Good to know about "Presidential Records Act (PRA)". Thanks, will try to look it up.
And it just keeps getting worse.
Since the WSJ reported that Waltz has set up “multiple” group chats on Signal for sensitive discussions on things like Russia and Ukraine, Politico now reports that additional sources are coming forward to say they can document at least 20 different group chats that Waltz has initiated on Signal:
“Waltz’s team set up at least 20 Signal group chats for crises across the world”
By DASHA BURNS April 2, 2025
https://apple.news/Aq9FuTuNxQYylVXo0yPuJkA
“National security adviser Mike Waltz’s team regularly set up chats on Signal to coordinate official work on issues including Ukraine, China, Gaza, Middle East policy, Africa and Europe, according to four people who have been personally added to Signal chats.”
Good way to launder money? Payor owes illegal money to payee, so legally buys stock from payee at highly inflated, ridiculous price. Payor might get some back, might not, but the illegal debt is now paid, so the Russian cyber-mafia will call off their collection team
Key takes on the IPO, "they don't even have large revenues. So they are not profitable and their revenues are small. But here's the third part of the story. They're in a dying sector. Right. Right. Newsmax exists in the world of linear cable, which is in the process of disaggregating and dying.", Tiny revenue, unprofitable, dying sector, all TRUE.
This is the democratization of the stock market. With the expansion of online trading, no commission trades, and everyone having a stake in the market vis 401(k), IRA, and pensions the citizenry are in it. And, just as our elections are driven by low information and I'll informed voters, so to the markets reflect the average investors knowledge. Tesla, DJT, Neswmax,...the shares are valued using a method Warren Buffet wouldn't use, I want to support my team and maybe make a quick buck.
How do I know my 401k mutual funds aren’t buying this stock and thus eventually pushing the loss onto me?
SEC requires quarterly reporting if their holdings also I believe 10% plus holders and executives need to disclose.
Stuff like this really bothers me. There's a prevailing attitude of "It's not so bad if the market doesn't crash." Trump and his ilk obviously know how to manipulate the market when you see this. How do we make people see how bad the situation is if the one metric people really care about isn't accurately reflecting that? And what does it say about us that this is the case?
They are going to start buying Bitcoin, come on guys.
I remember seeing Ruddy on the news during Trump 1.0. No clue if we even get Newsmax but would never watch anyway.
Is it true?
Yes.