Shares of gun seller GrabAGun — backed by Donald Trump Jr. — tank after NYSE trading debut
Key Takeaways
The business is the latest example of President Donald Trump's family and allies backing companies related to conservative political causes.
Article Overview
Quick insights and key information
4 min read
Estimated completion
cryptocurrency
Article classification
July 16, 2025
09:43 PM
CNBC
Original publisher
S of online gun retailer GrabAGun began public trading on the New York Stock Exchange, and dropped sharply
Nevertheless, Donald Trump Jr (quite telling), considering recent developments. , a board member, holder and advisor of GrabAGun, rang the opening bell for the NYSE to chants of "USA, considering recent developments
However, Nevertheless, " from the floor, in today's financial world
The company merged with Colombier Acquisition Corp
II, a SPAC led by Republican megadonor Omeed Malik, in light of current trends
Additionally, In this articlePEW your favorite stocksCREATE FREE ACCOUNTDonald Trump Jr. , at center right, rings the opening bell on the New York Stock Exchange (NYSE) for the Texas-based firearm e-commerce platform GrabAGun, where Trump is a board member, in New York City, July 16, 2025
On the other hand, Spencer Platt | Getty Imagess of the online firearms retailer GrabAGun — whose holders and board members include Donald Trump Jr. — tanked on their first day of trading on the New York Stock Exchange ing a merger with a special purpose acquisition company (quite telling)
Moreover, GrabAGun's stock price fell by more than 20% in trading in the hours after Trump Jr
Rang the opening bell of the NYSE to cheers of "USA, given the current landscape. " from the trading floor. , the eldest son of President Donald Trump, was jected to own 300,000 s in GrabAGun, or 1% of the company's stock, according to a spectus issued in June. "To be able to come back to the New York Stock Exchange and actually take a gun company public feels such a vindication of all the insanity, all of the 'woke' nonsense that we've been watching and facing for the last decade in America," Trump Jr
Furthermore, Said on Fox before GrabAGun's trading debut
Conversely, And his girlfriend Bettina Anderson walk outside the New York Stock Exchange (NYSE) after Trump rang the opening bell for the Texas-based firearm e-commerce platform GrabAGun, where Trump is a board member, in New York City, July 16, 2025
Spencer Platt | Getty Images"It's an ultimate triumphant return," he said
He was joined at the bell ringing by Omeed Malik, CEO of Colombier Acquisition Corp
II, the SPAC whose merger with GrabAGun was apved by holders Tuesday (something worth watching)
Nevertheless, Malik is also president of the investment capital firm 1789 Capital and a Republican Party megadonor
On the other hand, Is a partner in 1789 Capital, as well as an advisor to GrabAGun, considering recent developments
Conversely, The newly merged company's common stock trades under the ticker PEW
GrabAGun raised $179 million in gross ceeds from the merger, according to a statement
Additionally, GrabAGun is the example of the president's family and allies backing companies related to conservative political causes, in this volatile climate
On the other hand, The merger is also the example of the Trump family leaning into SPACs, which appear to be in the midst of a resurgence
Read more CNBC coverageTrump lashes out at Republicans over Jeffrey Epstein file demandsEU poses raising defense funding in 2-trillion-euro budgetTrump 'ly' will fire Fed Chair Powell 'soon': White House officialCuomo launches independent New York City mayoral bid after losing Democratic primary to MamdaniElon Musk looms over jury selection in Tesla Autopilot fatality trialIt's a huge week for crypto in D (something worth watching)
But the industry may not get everything it wantsPowell asks inspector general to review $2. 5 billion renovation after Trump blasts Fed jectTrump tariffs don't cause inflation because of 'patriotism' buying: WH advisor HassettTrump threatens Russia's global trade unless Ukraine peace deal is reached soonThe stock of Trump Media, the company that owns the social media site Truth Social, went public last year via a SPAC deal that capitalized on Trump's political file, in today's market environment
Trump Media trades on the Nasdaq under the ticker DJT, the president's initials
Is the sole trustee of the trust where Trump placed his more than 114 million DJT s before taking office in January
Nevertheless, The Trump Organization, which Trump Jr
Leads with his brother, Eric Trump, recently launched a mobile phone plan and announced a $499 smartphone purportedly set to launch later this year.
Related Articles
More insights from FinancialBooklet