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GrabAGun's Public Debut Falters Despite High-Profile Support

Shares of online firearms retailer GrabAGun nosedived more than 20% during their first hours of public trading on the New York Stock Exchange (NYSE), delivering a rocky start for a company closely tied to conservative political circles and Donald Trump Jr., who serves as a board member, shareholder, and advisor.

The sharp decline came just after a celebratory NYSE opening bell ceremony led by Trump Jr. and Omeed Malik, CEO of Colombier Acquisition Corp. II, the special purpose acquisition company (SPAC) that merged with GrabAGun. Chants of “USA!” rang from the trading floor, but that patriotic energy didn’t carry over into investor sentiment.

Details of the SPAC Merger and Financial Raise

GrabAGun’s path to the stock market came via a SPAC merger, a vehicle that has regained popularity among politically-connected ventures. The deal with Colombier Acquisition Corp. II was approved by shareholders on Tuesday, just a day before trading began.

The merger raised approximately $179 million in gross proceeds, positioning the company for potential growth, though the immediate market reaction signaled skepticism.

The newly formed entity is now listed under the ticker symbol “PEW” — a nod to gunfire.

Trump Jr.’s Role and Reaction

Donald Trump Jr., a longtime advocate of gun rights and conservative business ventures, reportedly owns 300,000 shares in GrabAGun, equating to about 1% of the company’s equity, according to the company’s SEC filings 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 we’ve been watching and facing for the last decade in America,” Trump Jr. said in an interview with Fox Business prior to the listing.

He hailed the debut as an “ultimate triumphant return” for conservative-friendly capitalism.

Political Connections and Business Ambitions

This latest venture is just one of several Trump-family-aligned business initiatives launched in recent years. GrabAGun follows in the footsteps of Trump Media & Technology Group, the parent of Truth Social, which also went public through a SPAC merger and now trades under the ticker DJT — Donald Trump’s initials.

Trump Jr., a partner at 1789 Capital (founded by Malik), has positioned himself as a central figure in politically-aligned investing. The firm and its network aim to support companies that align with right-leaning values and consumer markets, which now include digital media, firearms, and telecommunications.

The Trump Organization, which Trump Jr. manages with his brother Eric Trump, has also announced a $499 conservative-branded smartphone and a new mobile service targeting patriotic consumers, expected to launch later this year.

What’s Next for GrabAGun?

While the company’s debut was symbolically powerful and financially substantial in terms of cash raised, its first-day performance signals caution from institutional and retail investors. Analysts say much of the company's future now hinges on:

• Market perception of gun-related businesses
• Regulatory and political risk
• Continued conservative consumer enthusiasm
• Broader sentiment around SPAC-backed listings, which have been volatile

Investor reaction over the coming weeks will reveal whether GrabAGun can stabilize and build long-term momentum or if the hype surrounding its public debut was short-lived.

For now, it’s clear: political branding may generate attention — but not necessarily stock market confidence.

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