Online Gun Seller GrabAGun Digital Holding With Trump Jr As Board Member Makes Its Market Debut
Shares of the online Gunseller GrabAGun spiked at first but then
sank, closing down nearly 24%.
GrabAGun, which also sells ammunition and firearm accessories on
its website, went public through a merger with a special acquisition company,
or SPAC, named 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.
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