📺 Newsmax's IPO steals the spotlight

Good evening. We’re capping March, and what a month it’s been. A full-blown tariff bonanza. Trump doubled down yesterday, saying his “reciprocal tariffs” will target all countries, killing hopes for a smaller plan and making investors nervous ahead of Wednesday’s reveal.

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Market data: today’s market close

WINNERS

⬆︎735.10% Newsmax

Going public isn’t usually this dramatic—but Newsmax isn’t your typical cable network. The conservative channel priced its IPO at $10 today, then popped as investors piled in. Only 7.5 million shares were available to trade. Newsmax is the fourth most-watched cable news channel in the U.S. (CNBC)

⬆︎109.08% Corcept Therapeutics

A new pill could bring hope to ovarian cancer patients. Corcept’s experimental treatment slowed disease progression by 30% in a late-stage trial for patients with a specific tumor type. It’s aimed at those who haven’t responded to other treatments, and the company plans to seek FDA approval later this year. (Fierce Biotech)

⬆︎14.46% Mr. Cooper

Mortgage giant Rocket is buying its smaller rival Mr. Cooper for $9.4 billion in cash, paying a 40% premium. The deal could also help Rocket save up to $400 million by streamlining costs and tech. With more homes for sale and mortgage rates dipping, buyers are returning to the market. (New York Post)

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Market data: today’s market close

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LOSERS

⬇︎7.30% CoreWeave

The Nvidia-backed AI cloud company went public on Friday, but the excitement faded fast. Investors grew wary of its $13B debt, dependence on a few big clients like Microsoft and aging Nvidia chips, which could lose value soon with newer models already rolling out. (TradingView)

⬇︎8.90% Moderna

Biotech stocks got hammered after top FDA official Dr. Peter Marks suddenly resigned. He played a key role in approving vaccines and rare-disease drugs, and investors now fear his replacement may not be as supportive—especially with growing influence from vaccine-skeptic officials in the Trump administration. (Barron’s)

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Market data: today’s market close

EXTRA

STOCKTWITS

You can track these stocks on Stocktwits using the following symbols: $NMAX ( ▼ 27.56% ), $CORT ( ▼ 6.2% ), $COOP ( ▲ 0.83% ), $CRWV ( ▼ 11.12% ) & $MRNA ( ▼ 2.41% ).

THE END

That’s it for today’s recap. We hope you found it valuable.

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