The online gunseller with Donald Trump Jr. on its board makes its market debut. Shares plunge
By MATT OTT
WASHINGTON (AP) — Online firearms seller GrabAGun Digital Holdings, with the stock ticker “PEW,” made its market debut on Wednesday after board member and son of the U.S. president, Donald Trump Jr., rang the opening bell at the New York Stock Exchange.
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Shares of GrabAGun spiked at first but then sank, closing down nearly 24%.
GrabAGun, which also sells ammunition and firearm accessories on its website, went public through a merger with a special acquisition company, or SPAC, named Colombier Acquisition Corp. The Palm Beach, Florida, company said the transaction netted it more than $119 million, which GrabAGun said will be used for working capital and “other purposes to accelerate the company’s future growth.”
