Conservative cable news channel Newsmax is getting a Trump bump on Wall Street. The Boca Raton, Florida, outlet's stock price surged after its initial public offering Monday. Shares offered at $10 closed at $233 a share Tuesday afternoon,

A destination for political conservatives, the Boca Raton, Fla.-based news operation surges after its initial public offering.

Cable news outlet Newsmax posted staggering gains since its IPO debut on Monday, drawing comparisons to Trump Media & Technology Group. Both companies have high valuations despite

The Newsmax IPO was one for the record books. Priced at $10 per share, the cable TV company closed its first day of open-market trading at $83.51 and its second at $233, after rising as high as $265.

Loyal Newsmax viewers who listened to the channel’s entreaties last year and lined up to buy $10-per-share stakes in the company are feeling pretty rich right about now. Those shares are currently worth more than $130 each.

Shares of the conservative cable news channel Newsmax have skyrocketed more than 2,000 percent in the two days since it began trading in New York, pushing the firm's market value