Donald Trump Jr., astatine halfway right, rings the opening doorbell connected the New York Stock Exchange (NYSE) for the Texas-based firearm e-commerce level GrabAGun, wherever Trump is simply a committee member, successful New York City, July 16, 2025.
Spencer Platt | Getty Images
Shares of the online firearms retailer GrabAGun — whose shareholders and committee members see Donald Trump Jr. — tanked connected their archetypal time of trading connected the New York Stock Exchange pursuing a merger with a peculiar intent acquisition company.
GrabAGun's banal terms fell by much than 20% successful trading successful the hours aft Trump Jr. rang the opening doorbell of the NYSE to cheers of "USA!" from the trading floor.
Trump Jr., the eldest lad of President Donald Trump, was projected to ain 300,000 shares successful GrabAGun, oregon astir 1% of the company's stock, according to a prospectus issued successful June.
"To beryllium capable to travel backmost to the New York Stock Exchange and really instrumentality a weapon institution nationalist feels similar specified a vindication of each the insanity, each of the 'woke' nonsense that we've been watching and facing for the past decennary successful America," Trump Jr. said connected Fox Business earlier GrabAGun's trading debut.
Donald Trump Jr. and his woman Bettina Anderson locomotion extracurricular the New York Stock Exchange (NYSE) aft Trump rang the opening doorbell for the Texas-based firearm e-commerce level GrabAGun, wherever Trump is simply a committee member, successful New York City, July 16, 2025.
Spencer Platt | Getty Images
"It's an eventual triumphant return," helium said.
He was joined astatine the doorbell ringing by Omeed Malik, CEO of Colombier Acquisition Corp. II, the SPAC whose merger with GrabAGun was approved by shareholders Tuesday.
Malik is besides president of the concern superior steadfast 1789 Capital and a Republican Party megadonor.
Trump Jr. is simply a spouse successful 1789 Capital, arsenic good arsenic an advisor to GrabAGun.
The recently merged company's communal banal trades nether the ticker PEW.
GrabAGun raised $179 cardinal successful gross proceeds from the merger, according to a statement.
GrabAGun is the latest illustration of the president's household and allies backing companies related to blimpish governmental causes.
The merger is besides the latest illustration of the Trump household leaning into SPACs, which look to beryllium successful the midst of a resurgence.
Read much CNBC authorities coverage
The banal of Trump Media, the institution that owns the societal media tract Truth Social, went nationalist past twelvemonth via a SPAC deal that capitalized connected Trump's governmental profile. Trump Media trades connected the Nasdaq nether the ticker DJT, the president's initials.
Trump Jr. is the sole trustee of the trust wherever Trump placed his much than 114 cardinal DJT shares earlier taking bureau successful January.
The Trump Organization, which Trump Jr. leads with his brother, Eric Trump, precocious launched a mobile phone plan and announced a $499 smartphone purportedly acceptable to motorboat aboriginal this year.
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