GrabAGun Shares Plunge 20% Post NYSE Debut, Trump Jr. Rings Opening Bell
Online firearms retailer, GrabAGun Digital Holdings, experienced a rocky start on the New York Stock Exchange on July 16, 2025. Shares plummeted by over 20% following the ringing of the opening bell by Donald Trump Jr. The company, now trading under the ticker “PEW,” went public via a merger with special purpose acquisition company (SPAC), Colombier Acquisition Corp II.
GrabAGun managed to raise $179 million in gross proceeds from the merger. CEO Marc Nemati announced that these funds would be primarily used for working capital and accelerating growth. The Texas-based company boasted a revenue of over $90 million in the previous year. Trump Jr., serving as a board member and advisor, holds approximately 300,000 shares, equating to roughly 1% of the company. The President’s eldest son hailed the listing as a “vindication” against what he termed as “woke nonsense.”
The company primarily targets younger demographics. CEO Nemati highlighted their mobile-friendly platform, specifically designed for millennials and Gen Z consumers aged 18-44. Despite the stock’s disappointing initial performance, GrabAGun stands as the latest instance of the Trump family endorsing companies that align with conservative political causes.
Source: CNBC