WASHINGTON (AP) — Online firearms retailer GrabAGun Digital Holdings, trading under the ticker “PEW,” made its market debut Wednesday after board member Donald Trump Jr., son of the former U.S. president, rang the opening bell at the New York Stock Exchange.
GrabAGun’s shares initially surged but then dropped 21% by midday trading.
The Palm Beach, Florida-based company, which sells firearms, ammunition, and accessories online, went public through a merger with special purpose acquisition company (SPAC) Colombier Acquisition Corp. The deal raised over $119 million, which GrabAGun plans to use for working capital and to accelerate its growth.
SPACs, also known as “blank check” companies, offer startups a faster and less regulated path to public trading compared to traditional IPOs.
Corporate interest in having Trump Jr. on their boards has increased following his father’s 2024 presidential election victory.
Between 2020 and 2025, Trump Jr. held a board seat at Trump Media & Technology Group, founded by his father. Since November 2024, he has joined the boards of five companies, including GrabAGun.
The Trump Jr. name clearly carries influence.
For example, shares of drone maker Unusual Machines tripled shortly after Trump Jr. joined its board in the same month as the 2024 election.
Similarly, the “anti-woke” online marketplace PSQ Holdings, operating as PublicSquare, saw its stock more than triple following Trump Jr.’s board appointment in early December.
In February, financial advisory firm Dominari Holdings named both Donald and Eric Trump to its advisory board, triggering a share price jump from about $3 to $13 within days.
