GrabAGun Stock Crashes After NYSE Debut Despite Trump Jr. Backing

A gun-selling venture backed by Donald Trump Jr. had a disastrous debut on Wall Street, underscoring the challenges of merging conservative branding with public market expectations.

GrabAGun stock — an online firearms marketplace described by Trump Jr.’s partner Omeed Malik as the “Amazon of guns” — began trading Wednesday on the New York Stock Exchange (NYSE) under the ticker symbol PEW. What began with chants of “U.S.A.! U.S.A.!” during the opening bell quickly soured, as the stock plummeted 25% by 3 p.m., closing down 24% for the day.

The sharp drop wiped out roughly $1 million from Trump Jr.’s 300,000-share stake, though his holdings were still valued at around $4 million at the closing bell.

A Conservative Counterculture Business Play

GrabAGun’s public listing followed a merger with Colombier Acquisition Corp. II, a SPAC chaired by Malik, a Republican megadonor and CEO of 1789 Capital, which he co-founded with Trump Jr. The firm markets itself as a backer of companies aligned with the “anti-woke economy,” targeting businesses sidelined by what they describe as politically biased financial institutions.

“This is part of a growing counterculture,” Trump Jr. said in an interview with Bloomberg, citing growing concerns from conservative Americans about access to firearms and digital censorship.

He added that investors were increasingly drawn to “parallel economy” ventures that stand in opposition to traditional Silicon Valley and Wall Street ideologies.

Despite those ambitions, GrabAGun stock found little favor with the broader investor community. The lack of institutional interest, market volatility, and the polarizing nature of the business model all likely contributed to the drop.

Targeting a Younger, Online-Savvy Demographic

CEO Marc Nemati has emphasized that GrabAGun is aiming for a younger, e-commerce-minded customer base. Speaking on Trump Jr.’s podcast, Triggered, Nemati noted the platform caters to “people like me who buy everything online,” suggesting the company hopes to become the dominant digital destination for firearms and ammunition.

“Millennials and Gen Z are now shaping the future of firearms retail,” Nemati said in a separate investor presentation last month. “We believe it’s time the gun industry caught up with e-commerce.”

That strategy, while forward-looking, is still constrained by regulatory hurdles, credit card restrictions, and advertising bans on major platforms like Google and Facebook—barriers that traditional online retailers don’t face.

Woke Capital, Conservative Cash

In its public filings, GrabAGun said it had been stymied by “woke capital constraints” and viewed going public as a means to raise funds and circumvent what it perceives as financial bias. But even among conservative investors, enthusiasm seems limited. Some financial analysts caution that mixing overt political ideology with business can narrow a company’s potential market.

“It’s a high-risk model,” said Lydia Jensen, an analyst at Sable Rock Investments. “You may energize a small, loyal audience, but alienate institutional capital and broader demographics who drive sustainable growth.”

Even Trump Media & Technology Group, which operates Truth Social, has seen a 44% decline year-to-date, despite being among the most visible Trump-linked stocks.

Don Jr.’s Expanding Business Portfolio

GrabAGun is just the latest addition to Trump Jr.’s growing business empire. Since his father’s return to the political arena, Don Jr. has joined at least eight corporate boards and advisory groups, ranging from tech startups to media ventures.

He remains Executive Vice President of Development and Acquisitions at the Trump Organization and holds board seats at Trump Media & Technology Group and Public Square Holdings Inc., both of which align with his “America First” economic philosophy.

Despite the rough start, Trump Jr. expressed confidence in the long-term vision for GrabAGun.

“What we’re giving them with the cash, the public stock, and the notoriety is going to allow them to really grow,” he told Bloomberg.

What’s Next for GrabAGun Stock?

As of Thursday morning, GrabAGun stock continued to decline, falling an additional 30%. Market analysts now view the stock as highly volatile and caution that the political nature of its leadership may continue to impact investor sentiment.

Still, for Trump supporters and Second Amendment (2A) advocates, GrabAGun is more than a business — it’s a statement. Whether that’s enough to weather the financial storm remains to be seen.

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