Trump Jr.-Backed GrabAGun Stock (PEW) Tumbles on NYSE Debut
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The debut followed a $179 million special purpose acquisition company (SPAC) merger with Colombier Acquisition Corp. II, giving GrabAGun a quick entry to public markets. Trump Jr., who owns about 1% of the company and sits on its board, rang the opening bell earlier today.
GrabAGun CEO Marc Nemati said the company wants to attract younger buyers who shop online and value their Second Amendment rights.
Trump Family's Investment Focus
GrabAGun's listing is the latest instance of President Trump's family investing in companies aligned with conservative political causes. It also shows renewed interest in SPAC deals by the Trump family.
Last year, Trump Media (DJT), the parent company of Truth Social, went public through a SPAC deal. Donald Trump Jr. is the sole trustee of the trust holding President Trump's over 114 million DJT shares, which were placed there before he took office in January.
Some other companies of which Trump Jr. is a member of the board are drone manufacturer Unusual Machines (UMAC), 'anti-woke' online marketplace PSQ Holdings (PSQH), and financial advisory firm Dominari Holdings (DOMH).
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