GrabAGun Digital Holdings, an online firearms seller, made its market debut with the stock ticker “PEW” as Donald Trump Jr. rang the opening bell at the NYSE. The company went public through a merger with SPAC Colombier Acquisition Corp, raising over $119 million for future growth and working capital.

Shares of GrabAGun surged and then dropped 21% in midday trading. Special acquisition companies, like Colombier, provide quicker routes for startups to go public without the scrutiny of a traditional IPO. Interest in Trump Jr. on boards increased after his father’s presidential victory, boosting company stock prices upon his appointments.

Trump Jr. has been appointed to multiple boards since the 2024 Election Day, including GrabAGun, Unusual Machines, PublicSquare, and Dominari Holdings. Companies have seen significant stock price increases after his appointments, showcasing the benefits of having him on board.

Read more at Yahoo Finance: The online gunseller with Donald Trump Jr. on its board makes its market debut. Shares plunge