Shares of Donald Trump Jr.-Backed GrabAGun Falter in NYSE Trading Debut

GrabAGun (PEW), an online firearms retailer backed by Donald Trump Jr., lost a fifth of its value on its first day as a publicly traded company.

Trump Jr. sits on the company’s board of directors and holsa a 1% stake, according to a regulatory filing. The eldest child of President Donald Trump rang the New York Stock Exchange opening bell to kick off the day of trading Wednesday.

GrabAGun went public Wednesday after merging with a special purpose acquisition company, Colombier II.The transaction generated $179 million in gross proceeds for GrabAGun, the company said; the money will be “working capital and other corporate purposes to accelerate the Company’s future growth initiatives,” according to a filing.

GrabAGun reported more than $90 million in revenue in each of 2023 and 2024, the company said, turning in a more-than $4 million net profit in both years.

Shares of GrabAGun, which trade on the New York Stock exchange, ended the day more than 20% lower. The shares opened at $21.40 but moved no higher, closing a bit off daily lows at $13.20.