How Donald Trump Leveraged His Presidency for Family Wealth: Trump Jr.'s Recent Risk Takes a Wrong Turn

Donald Trump Jr. joyfully rang the opening bell at the New York Stock Exchange, celebrating a pro-gun e-commerce venture named GrabAGun, dubbed “the Amazon of Guns.” However, just two days post-launch on July 16, the stock faced a severe downturn. Despite the anticipated fanfare marking this milestone, the shares plummeted over 30% within a mere two trading days. GrabAGun, an online retailer of firearms from handguns to hunting rifles, debuted under the ticker “PEW,” a playful nod to gunfire. In a highly publicized event, Trump Jr. expressed that taking a gun enterprise public signified a rebuttal to the "woke" issues dominating recent years. Unfortunately, market enthusiasm was absent. Shares opened at $21.40, quickly sliding to $13.20, then further down to approximately $10.20 the following day, eventually sinking to around $8.52 by July 22. Financial experts noted that this crisis was foreseeable, given the notorious instability surrounding SPAC mergers, which have recently fallen out of favor amid disappointing performances for many associated firms.

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