Newsmax’s wild ride continues. This time, though, the rollercoaster went down.Shares of the media company finished Wednesday's session off 77% at under $53 apiece. plummeting in their third session as a publicly traded company.

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

Many factors can cause a stock to surge following its IPO. However, one catalyst tends to drive its long-term performance: profitability. A company needs to make money to support its operations and growth over the long term. If a company continues to lose money, its stock will likely lose value.