Shares of Trump-friendly Newsmax leap 2,200% after Wall Street debut

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Christopher Ruddy, a rightwing media mogul and longtime friend of Donald Trump, has become a multibillionaire after Newsmax shares continued to surge following its public listing debut on Monday — an unlikely outcome for a lossmaking cable television channel.

Shares in Ruddy’s Newsmax closed 179 per cent higher at $233 on Tuesday. That took the stock’s gains since…

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