Newsmax stock price crashed 77% on Wednesday after a wild post-IPO rally. Its low share float heightens the stock's volatility.

Shares of the conservative media outlet Newsmax ( NMAX -77.37%) had sunk by nearly 50% as of 1:25 p.m. ET today. There was no obvious reason behind the move but the stock has traded like a meme stock since going public on Monday, so big moves are to be expected.

Even after crashing down to earth Wednesday, Newsmax is still valued at an extreme premium compared to Fox and the New York Times.

Newsmax Inc.'s 17x surge defies fundamentals and faces profitability challenges. Here's why experts urge caution on highly speculative NMAX stock.

Newsmax has settled into Wall Street at a more-reasonable $40 per share after achieving a wild high of more than $280 by mid-week.

Ruddy ended the day with some $3.3 billion in stock after the share price jumped 735%. CNBC reported that on Tuesday morning, the stock jumped another 100%.

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

Long a conservative media also-ran, Newsmax’s stock price has risen and fallen dramatically throughout the week.