This Right Wing Media Company Had The Biggest IPO Of All Time This Year

While 2025 has been a modest year for IPOs, several recent initial public offerings have broken records. On March 31, 2025, Newsmax issued 7.5 million shares of stock at $10.00 a share. While most companies aim for a return of 10% to 15% on the first day of trading, Newsmax shares rose 735.1% to $83.51 on opening day, more than any major company in stock market history.

The companies with the biggest IPOs span a wide range of industries and eras. Several internet companies -- like McAfee, VA Linux, and Red Hat -- experienced triple-digit growth during the dot-com boom of the 1990s, while in recent years medical companies like Tenon Medical and Virax Biolabs have fueled bidding frenzies that led to blockbuster IPOs. Of the 50 companies with the biggest IPOs of all time, 24 occurred in 1999 -- the peak year of the dot-com boom. A closer look at the data reveals the biggest IPOs of all time.

To determine the biggest IPOs of all time, My Investing News reviewed historical data on IPOs from the University of Florida, IPOScoop.com, Bloomberg, Thomson Financial, Dealogic, WSJ.com, and the S.E.C.’s Edgar electronic database of 424B forms. Companies were ranked based on the percentage change in IPO price and first-day market close. Supplemental data on number of shares offered is also from the University of Florida.

50. Virax Biolabs (VRAX)

One-day change in IPO price and first-day market close: +264.0%
IPO price: $5.00 (July 21, 2022)
Price at first-day market close: $18.20
Number of shares offered: 1,350,000

49. Redback Networks (RBAK)

One-day change in IPO price and first-day market close: +265.8%
IPO price: $23.00 (May 18, 1999)
Price at first-day market close: $84.13
Number of shares offered: 2,500,000

48. McAfee.com (MCAF)

One-day change in IPO price and first-day market close: +266.7%
IPO price: $12.00 (December 2, 1999)
Price at first-day market close: $44.00
Number of shares offered: 6,250,000

47. Digital Impact (DIGI)

One-day change in IPO price and first-day market close: +270.0%
IPO price: $15.00 (November 23, 1999)
Price at first-day market close: $55.50
Number of shares offered: 4,500,000

46. Red Hat (RHAT)

One-day change in IPO price and first-day market close: +271.9%
IPO price: $14.00 (August 11, 1999)
Price at first-day market close: $52.06
Number of shares offered: 6,000,000

45. Jiuzi Holdings (JZXN)

One-day change in IPO price and first-day market close: +272.4%
IPO price: $5.00 (May 18, 2021)
Price at first-day market close: $18.62
Number of shares offered: 5,200,000

44. Marvel Technology Group (MRVL)

One-day change in IPO price and first-day market close: +277.5%
IPO price: $15.00 (June 27, 2000)
Price at first-day market close: $56.63
Number of shares offered: 6,000,000

43. UTStarcom (UTSI)

One-day change in IPO price and first-day market close: +278.5%
IPO price: $18.00 (March 3, 2000)
Price at first-day market close: $68.13
Number of shares offered: 10,000,000

42. Expedia Inc. (EXPE)

One-day change in IPO price and first-day market close: +281.7%
IPO price: $14.00 (November 10, 1999)
Price at first-day market close: $53.44
Number of shares offered: 5,200,000

41. eToys (ETYS)

One-day change in IPO price and first-day market close: +282.8%
IPO price: $20.00 (May 20, 1999)
Price at first-day market close: $76.56
Number of shares offered: 8,320,000

40. Versata (VATA)

One-day change in IPO price and first-day market close: +286.5%
IPO price: $24.00 (March 3, 2000)
Price at first-day market close: $92.75
Number of shares offered: 3,850,000

39. Ariba (ARBA)

One-day change in IPO price and first-day market close: +291.3%
IPO price: $23.00 (June 23, 1999)
Price at first-day market close: $90.00
Number of shares offered: 5,000,000

38. Healtheon (HLTH)

One-day change in IPO price and first-day market close: +292.2%
IPO price: $8.00 (February 11, 1999)
Price at first-day market close: $31.38
Number of shares offered: 5,000,000

37. Alteon Websystems (ATON)

One-day change in IPO price and first-day market close: +294.4%
IPO price: $19.00 (September 24, 1999)
Price at first-day market close: $74.94
Number of shares offered: 4,000,000

36. Preview Systems (PRVW)

One-day change in IPO price and first-day market close: +298.8%
IPO price: $21.00 (December 8, 1999)
Price at first-day market close: $83.75
Number of shares offered: 3,800,000

35. Calico Commerce (CLIC)

One-day change in IPO price and first-day market close: +300.0%
IPO price: $14.00 (October 7, 1999)
Price at first-day market close: $56.00
Number of shares offered: 4,000,000

34. Neoforma.com (NEOF)

One-day change in IPO price and first-day market close: +302.9%
IPO price: $13.00 (January 25, 2000)
Price at first-day market close: $52.38
Number of shares offered: 7,000,000

33. Wireless Facilities (WFII)

One-day change in IPO price and first-day market close: +313.3%
IPO price: $15.00 (November 5, 1999)
Price at first-day market close: $62.00
Number of shares offered: 4,000,000

32. Asiainfo Holdings (ASIA)

One-day change in IPO price and first-day market close: +314.8%
IPO price: $24.00 (March 3, 2000)
Price at first-day market close: $99.56
Number of shares offered: 5,000,000

31. Baidu.com (BIDU)

One-day change in IPO price and first-day market close: +327.8%
IPO price: $27.00 (August 5, 2005)
Price at first-day market close: $115.50
Number of shares offered: 4,040,402

30. Priceline.com (PCLN)

One-day change in IPO price and first-day market close: +331.3%
IPO price: $16.00 (March 30, 1999)
Price at first-day market close: $69.00
Number of shares offered: 10,000,000

29. Crossroads Systems (CRDS)

One-day change in IPO price and first-day market close: +337.3%
IPO price: $18.00 (October 20, 1999)
Price at first-day market close: $78.72
Number of shares offered: 3,750,000

28. zSpace (ZSPC)

One-day change in IPO price and first-day market close: +340.0%
IPO price: $5.00 (December 5, 2024)
Price at first-day market close: $22.00
Number of shares offered: 1,875,000

27. Tenon Medical (TNON)

One-day change in IPO price and first-day market close: +350.0%
IPO price: $5.00 (April 27, 2022)
Price at first-day market close: $22.50
Number of shares offered: 3,200,000

26. Firepond (FIRE)

One-day change in IPO price and first-day market close: +355.7%
IPO price: $22.00 (February 4, 2000)
Price at first-day market close: $100.25
Number of shares offered: 5,000,000

25. Finisar (FNSR)

One-day change in IPO price and first-day market close: +357.2%
IPO price: $19.00 (November 12, 1999)
Price at first-day market close: $86.88
Number of shares offered: 8,150,000

24. Ask Jeeves (ASKJ)

One-day change in IPO price and first-day market close: +363.8%
IPO price: $14.00 (July 1, 1999)
Price at first-day market close: $64.94
Number of shares offered: 3,000,000

23. Selectica (SLTC)

One-day change in IPO price and first-day market close: +370.8%
IPO price: $30.00 (March 10, 2000)
Price at first-day market close: $141.23
Number of shares offered: 4,000,000

22. Avanex corporation (AVNX)

One-day change in IPO price and first-day market close: +377.8%
IPO price: $36.00 (February 4, 2000)
Price at first-day market close: $172.00
Number of shares offered: 6,000,000

21. Sycamore Networks (SCMR)

One-day change in IPO price and first-day market close: +386.2%
IPO price: $38.00 (October 22, 1999)
Price at first-day market close: $184.75
Number of shares offered: 7,475,000

20. Pop Culture Group Ltd (CPOP)

One-day change in IPO price and first-day market close: +405.0%
IPO price: $6.00 (June 30, 2021)
Price at first-day market close: $30.30
Number of shares offered: 6,200,000

19. Genius Group Ltd (GNS)

One-day change in IPO price and first-day market close: +408.3%
IPO price: $6.00 (April 12, 2022)
Price at first-day market close: $30.50
Number of shares offered: 3,272,727

18. Crayfish Co Ltd (CRFH)

One-day change in IPO price and first-day market close: +414.3%
IPO price: $24.50 (March 6, 2000)
Price at first-day market close: $126.00
Number of shares offered: 4,350,000

17. Cacheflow (CFLO)

One-day change in IPO price and first-day market close: +426.6%
IPO price: $24.00 (November 19, 1999)
Price at first-day market close: $126.38
Number of shares offered: 5,000,000

16. Society Pass (SOPA)

One-day change in IPO price and first-day market close: +436.7%
IPO price: $9.00 (November 9, 2021)
Price at first-day market close: $48.30
Number of shares offered: 2,888,889

15. Akamai Technologies (AKAM)

One-day change in IPO price and first-day market close: +458.4%
IPO price: $26.00 (October 29, 1999)
Price at first-day market close: $145.19
Number of shares offered: 9,000,000

14. MarketWatch.com (MKTW)

One-day change in IPO price and first-day market close: +473.5%
IPO price: $17.00 (January 15, 1999)
Price at first-day market close: $97.50
Number of shares offered: 2,750,000

13. Cobalt Networks (COBT)

One-day change in IPO price and first-day market close: +482.4%
IPO price: $22.00 (November 5, 1999)
Price at first-day market close: $128.13
Number of shares offered: 5,000,000

12. Free Markets (FMKT)

One-day change in IPO price and first-day market close: +483.3%
IPO price: $48.00 (December 10, 1999)
Price at first-day market close: $280.00
Number of shares offered: 3,600,000

11. Esports (EBET)

One-day change in IPO price and first-day market close: +507.0%
IPO price: $6.00 (April 15, 2021)
Price at first-day market close: $36.42
Number of shares offered: 2,400,000

10. webMethods (WEBM)

One-day change in IPO price and first-day market close: +507.5%
IPO price: $35.00 (February 11, 2000)
Price at first-day market close: $212.62
Number of shares offered: 4,100,000

9. Foundry Networks (FDRY)

One-day change in IPO price and first-day market close: +525.0%
IPO price: $25.00 (September 28, 1999)
Price at first-day market close: $156.25
Number of shares offered: 5,000,000

8. Blue Water Vaccines (BWV)

One-day change in IPO price and first-day market close: +537.8%
IPO price: $9.00 (February 18, 2022)
Price at first-day market close: $57.40
Number of shares offered: 2,222,222

7. Sentage Holdings (SNTG)

One-day change in IPO price and first-day market close: +597.8%
IPO price: $5.00 (July 9, 2021)
Price at first-day market close: $34.89
Number of shares offered: 4,000,000

6. theGlobe.com (TGLO)

One-day change in IPO price and first-day market close: +605.6%
IPO price: $9.00 (November 13, 1998)
Price at first-day market close: $63.50
Number of shares offered: 3,100,000

5. U Power Ltd (UCAR)

One-day change in IPO price and first-day market close: +619.7%
IPO price: $6.00 (April 20, 2023)
Price at first-day market close: $43.18
Number of shares offered: 2,500,000

4. AeroClean Technologies (AERC)

One-day change in IPO price and first-day market close: +689.4%
IPO price: $10.00 (November 24, 2021)
Price at first-day market close: $78.94
Number of shares offered: 2,500,000

3. VA Linux (LNUX)

One-day change in IPO price and first-day market close: +697.5%
IPO price: $30.00 (December 9, 1999)
Price at first-day market close: $239.25
Number of shares offered: 4,400,000

2. Yoshitsu Co. Ltd (TKLF)

One-day change in IPO price and first-day market close: +700.0%
IPO price: $4.00 (January 18, 2022)
Price at first-day market close: $32.00
Number of shares offered: 6,000,000

1. NewsMax Class B (NMAX)

One-day change in IPO price and first-day market close: +735.1%
IPO price: $10.00 (March 31, 2025)
Price at first-day market close: $83.51
Number of shares offered: 7,500,000