Donald 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. Shares of the online firearms retaile r GrabAGun whose shareholders and board members include Donald Trump Jr. tanked on their first day of trading on the New York Stock Exchange following a merger with a special purpose acquisition company.
GrabAGuns 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! from the trading floor.
Trump Jr., the eldest son of President Donald Trump, was projected to own 300,000 shares in GrabAGun, or about 1% of the companys stock, according to a prospectus issued in June.
To be able to come back to the New York Stock Exchange and actually take a gun company public feels like such a vindication of all the insanity, all of the woke nonsense that weve been watching and facing for the last decade in America, Trump Jr. said on Fox Business before GrabAGuns trading debut.
Donald Trump Jr. 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.Its 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 approved by shareholders Tuesday.
Malik is also president of the investment capital firm 1789 Capital and a Republican Party megadonor.
Trump Jr. is a partner in 1789 Capital, as well as an advisor to GrabAGun.
The newly merged companys common stock trades under the ticker PEW.
GrabAGun raised $179 million in gross proceeds from the merger, according to a statement.
GrabAGun is the latest example of the presidents family and allies backing companies related to conservative political causes.
The merger is also the latest example of the Trump family leaning into SPACs, which appear to be in the midst of a resurgence.
The 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 Trumps political profile. Trump Media trades on the Nasdaq under the ticker DJT, the presidents initials.
Trump Jr. is the sole trustee of the trust where Trump placed his more than 114 million DJT shares before taking office in January.
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.
