Donald Trump Jr.-backed GrabAGun saw its shares fall 22% on Thursday, extending losses following its market debut.
Trump Jr., who owns around 300,000 shares and holds a board seat, has promoted the firearms retailer as part of a broader push into politically aligned business ventures.
GrabAGun went public through a merger with Colombier Acquisition Corp. II, a special purpose acquisition company backed by Omeed Malik. The company sells firearms, ammunition, and accessories online and describes itself as the “Amazon of guns,” aiming to attract younger consumers with a tech-focused shopping experience.
The decision to go public via a SPAC comes at a time when such vehicles face increased investor caution compared to traditional IPOs. Despite market skepticism, Colombier reported almost no share redemptions, suggesting some investor confidence in the business.
Founded in 2010, GrabAGun enters a market where major retailers have reduced or ended their firearm sales. The company says this gives it limited competition.
It also fits into a group of businesses aligned with conservative values, joining others like Trump Media & Technology Group, Rumble, and Chain Bridge Bancorp.
Trump Jr. said the company’s direction would have been unlikely several years ago and sees it as part of a shift away from what he described as “wokeness” in corporate America. GrabAGun is one of several ventures tied to the Trump family’s expanding business interests in real estate, media, and consumer goods.
