New York City — Donald Trump Jr. marked a significant moment in the financial sector on July 16, 2025, by ringing the opening bell for GrabAGun, an online firearm retailer based in Texas. Trump Jr., who serves on the company’s board, celebrated the occasion alongside supporters at the New York Stock Exchange (NYSE). However, cheers quickly faded as the company’s stock plummeted by over 20% on its first day of trading after a merger with a special purpose acquisition company (SPAC).
Initially, GrabAGun’s trading debut was met with enthusiasm, but as the day progressed, investors reacted negatively to the new stock’s performance. Trump Jr. was projected to hold approximately 300,000 shares in the company, equating to about 1% of GrabAGun’s total stock, according to a prospectus released in June.
In an interview prior to the market opening, Trump Jr. expressed his sense of vindication in bringing a firearms company to the public market. He criticized what he termed as “woke nonsense” prevalent in society, suggesting that the listing reflects resilience against a decade of cultural shifts. “It’s an ultimate triumphant return,” he stated, underscoring his emotional connection to the event.
Accompanying Trump Jr. during the bell-ringing was Omeed Malik, CEO of Colombier Acquisition Corp. II, the SPAC involved in the merger with GrabAGun. Malik, a prominent Republican donor and president of the investment firm 1789 Capital, also shares a professional affiliation with Trump Jr. as a partner at the same firm.
Following the merger, GrabAGun reported raising $179 million in gross proceeds, a notable achievement intended to bolster its standing in the competitive online firearms market. The newly formed company trades under the ticker symbol PEW, a nod to its product line.
GrabAGun exemplifies a trend of businesses linked to conservative causes being supported by members of the Trump family and their associates. The merger follows a broader pattern wherein Trump-related ventures have leveraged SPACs, which have seen a resurgence in popularity. Trump Media, which operates the social networking platform Truth Social, became public last year through a similar SPAC arrangement, reflecting the enduring influence of Trump’s political presence.
As GragABun embarks on its journey as a publicly traded company, the future of its stock will be closely monitored, particularly given the current volatility surrounding many SPACs. Meanwhile, the Trump Organization, co-managed by Trump Jr. and his brother Eric, diversifies its ventures, recently announcing the launch of a mobile phone service and a smartphone expected later this year, exemplifying their commitment to expanding their business portfolio.