Latest news with #GrabAGunDigitalHoldings
Business Insider
6 days ago
- Business
- Business Insider
Stock of an online gun seller backed by Donald Trump Jr. drops 30% in its 2nd day of trading
Investors haven't cheered the latest Trump-linked company to go public. GrabAGun Digital Holdings started trading on the New York Stock Exchange on Wednesday after merging with Colombier Acquisition Corp II. Omeed Malik, CEO of the blank-check company, is a Trump campaign and Republican Party megadonor, and Donald Trump Jr., the oldest son of President Donald Trump, is a member of the company's board of directors and an advisor. After plunging on its first day of trading, the stock dropped again on Thursday. Shares were down as much as 30% to $9.24. Trading under the ticker PEW and describing itself as the " Amazon of guns," GrabAGun operates in a unique market niche: selling firearms and ammunition over the internet. Trump Jr. touted the GrabAGun IPO in multiple X posts, stating"What we're doing with @grabagun would have been unthinkable 4 years ago." The two-day plunge might not be surprising given how other firearm stocks have performed in 2025. Smith & Wesson Brands is down 17% year-to-date, and Sturm Ruger & Company stock has been highly volatile. Other Trump-linked stocks have had a tough year as well. Trump Media and Technology Corp. is down 44% year-to-date after being among the " Trump trades" expected to benefit from the president's second term. Marcus Sturdivant Sr., managing member of financial advisory The ABC Squared, nodded to the potentially polarizing nature of a public company whose business is selling guns, especially one directly linked to Trump. "It is challenging to grow a business when you isolate a large segment before your first stock is issued," Sturdivant said. "There is power in niche marketing, [but that] usually works better in operational sales than in stock market selling," he said.
Business Insider
6 days ago
- Business
- Business Insider
Stock of an online gun seller backed by Donald Trump Jr. drops 30% in its 2nd day of trading
GrabAGun Digital Holdings stock is down sharply in the two days since its market debut. The digital firearms seller counts Donald Trump Jr. as a member of its board of directors. Shares fell as much as 30% on Thursday, extending deep losses from its Wednesday trading debut. GrabAGun Digital Holdings started trading on the New York Stock Exchange on Wednesday after merging with Colombier Acquisition Corp II. Omeed Malik, CEO of the blank-check company, is a Trump campaign and Republican Party megadonor, and Donald Trump Jr., the oldest son of President Donald Trump, is a member of the company's board of directors and an advisor. After plunging on its first day of trading, the stock dropped again on Thursday. Shares were down as much as 30% to $9.24. Trading under the ticker PEW and describing itself as the " Amazon of guns," GrabAGun operates in a unique market niche: selling firearms and ammunition over the internet. Trump Jr. touted the GrabAGun IPO in multiple X posts, stating"What we're doing with @grabagun would have been unthinkable 4 years ago." The two-day plunge might not be surprising given how other firearm stocks have performed in 2025. Smith & Wesson Brands is down 17% year-to-date, and Sturm Ruger & Company stock has been highly volatile. Other Trump-linked stocks have had a tough year as well. Trump Media and Technology Corp. is down 44% year-to-date after being among the " Trump trades" expected to benefit from the president's second term. Marcus Sturdivant Sr., managing member of financial advisory The ABC Squared, nodded to the potentially polarizing nature of a public company whose business is selling guns, especially one directly linked to Trump. "It is challenging to grow a business when you isolate a large segment before your first stock is issued," Sturdivant said. "There is power in niche marketing, [but that] usually works better in operational sales than in stock market selling," he said.
Yahoo
7 days ago
- Business
- Yahoo
The online gunseller with Donald Trump Jr. on its board makes its market debut. Shares plunge
WASHINGTON (AP) — Online firearms seller GrabAGun Digital Holdings, with the stock ticker 'PEW,' made its market debut on Wednesday after board member and son of the U.S. president, Donald Trump Jr., rang the opening bell at the New York Stock Exchange. Shares of GrabAGun spiked, and then plunged 21% in midday trading. GrabAGun, which also sells ammunition and firearm accessories on its website, went public through a merger with special acquisition company (SPAC) Colombier Acquisition Corp. The Palm Beach, Florida, company said the transaction netted it more than $119 million, which GrabAGun said will be used for working capital and 'other purposes to accelerate the company's future growth.' Special acquisition companies, sometimes called 'blank check" companies, can give startups quicker and easier routes to getting their shares trading publicly, while avoiding the traditional scrutiny that comes with a more standard IPO. Corporate interest in having Trump Jr. as a member of the board accelerated upon his father's victory in the U.S. presidential election. Trump Jr. had been named to one board seat between 2020 and 2025, and that was his father's Trump Media & Technology Group in 2022. Since Election Day in November 2024, Trump Jr. has been named to the board of directors at five companies, including GrabAGun. There are clear benefits that come with the name. Trump Jr. was named to the board of drone maker Unusual Machines in the same month that his father was elected. Shares in the company tripled in the days after the announcement. Shares of the so-called 'anti-woke' online marketplace PSQ Holdings, doing business as PublicSquare, more than tripled after it named Trump Jr. to its board in early December. In February, the financial advisory firm Dominari Holdings named Trump Jr. and his brother Eric Trump to an advisory board, sending its shares from around $3 to $13 in a matter of days. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Washington Post
7 days ago
- Business
- Washington Post
The online gunseller with Donald Trump Jr. on its board makes its market debut. Shares plunge
WASHINGTON — Online firearms seller GrabAGun Digital Holdings, with the stock ticker 'PEW,' made its market debut on Wednesday after board member and son of the U.S. president, Donald Trump Jr., rang the opening bell at the New York Stock Exchange. Shares of GrabAGun spiked, and then plunged 21% in midday trading. GrabAGun, which also sells ammunition and firearm accessories on its website, went public through a merger with special acquisition company (SPAC) Colombier Acquisition Corp. The Palm Beach, Florida, company said the transaction netted it more than $119 million, which GrabAGun said will be used for working capital and 'other purposes to accelerate the company's future growth.' Special acquisition companies, sometimes called 'blank check' companies, can give startups quicker and easier routes to getting their shares trading publicly, while avoiding the traditional scrutiny that comes with a more standard IPO. Corporate interest in having Trump Jr. as a member of the board accelerated upon his father's victory in the U.S. presidential election. Trump Jr. had been named to one board seat between 2020 and 2025, and that was his father's Trump Media & Technology Group in 2022. Since Election Day in November 2024, Trump Jr. has been named to the board of directors at five companies, including GrabAGun. There are clear benefits that come with the name. Trump Jr. was named to the board of drone maker Unusual Machines in the same month that his father was elected. Shares in the company tripled in the days after the announcement. Shares of the so-called 'anti-woke' online marketplace PSQ Holdings, doing business as PublicSquare, more than tripled after it named Trump Jr. to its board in early December. In February, the financial advisory firm Dominari Holdings named Trump Jr. and his brother Eric Trump to an advisory board, sending its shares from around $3 to $13 in a matter of days.
