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,

Newsmax's stock surge sent its market capitalization to nearly $30 billion — meaning the company is now more valuable than many of its media peers, including Trump Media and even Fox Corp. Retail investors have rushed into Newsmax on tailwinds of President Donald Trump's return to the White House.

Newsmax surged for a second straight day following its stellar debut. But investors must be careful. The fun may not last.

Newsmax went public this week, and the low volume of shares available to trade has exacerbated the impact of high demand, sending the stock soaring.

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.