Matt Ott
Washington (AP) – Online firearms seller Grabagun Digital Holdings.
Grabagun’s shares initially surged, but then sank, closing almost 24%.
Grabagun, which sells ammunition and firearm accessories on its website, was made public through a merger with SPAC, a special acquisition company named Palm Beach in Palm Beach, Florida.
Special acquisition companies, sometimes referred to as “blank checks” companies, can give startups a faster and easier route to trade stocks publicly, avoiding the traditional scrutiny associated with more standard IPOs.
Corporate interest in Trump Jr.’s board membership has accelerated, along with his father’s victory in the US presidential election.
Trump Jr. was appointed to one board of directors between 2020 and 2025, but that was his father Trump Media & Technology Group in 2022.
Since Election Day in November 2024, Trump Jr. has been appointed to five boards of directors, including Grabagun.
Grabagun board members Donald Trump, Jr., second from right, CEO of Marc Nemati, fourth from right, others will ring the opening bell at the New York Stock Exchange in New York on Wednesday, July 16th, 2025 (AP Photo/Seth Wenig)
Grabagun CEO Marc Nemati will take a photo on the floor of the New York Stock Exchange in New York on Wednesday, July 16th, 2025 (AP Photo/Seth Wenig)
1 of 2
Grabagun board members Donald Trump, Jr., second from right, CEO of Marc Nemati, fourth from right, others will ring the opening bell at the New York Stock Exchange in New York on Wednesday, July 16th, 2025 (AP Photo/Seth Wenig)
Enlarge
There are distinct advantages that come with the name.
Trump Jr. was appointed to the drone maker’s rare machines committee the same month his father was elected. The company’s shares tripled within a few days of the announcement.
After naming Trump Jr. to the board in early December, he went on business as Publicsquare, and stakes in the so-called “awakening” online marketplace PSQ Holdings.
In February, financial advisory firm Dominali Holdings named Trump Jr. and his brother Eric Trump to the advisory board, sending the shares from around $3 to $13 in a few days.
Original issue: July 16th, 2025, 5:58pm EDT
