DONALD TRUMP JR. JOINS PUBLICSQUARE HOLDINGS BOARD, SHARES SURGE 270.4%
News of Donald Trump Jr.’s addition to the board of PSQ Holdings, the parent company of online marketplace PublicSquare, sent the stock price skyrocketing on Tuesday. The company’s shares surged 270.4% to $7.63 after the announcement, reaching a market capitalization of $72 million.
Donald Trump Jr., the eldest son of President-elect Donald Trump, has been an investor in PublicSquare since before the company’s initial public offering (IPO). As a new member of the board, he brings his “passion for creating a ‘cancel-proof’ economy, his years of strategic business experience, and his leadership within the shooting sports industry,” according to CEO Michael Seifert.
PSQ Holdings, a microcap stock, focuses on commerce and payments with an emphasis on “life, family, and liberty.” The company reported net revenue of $6.5 million and operating losses of more than $14 million for the September quarter. Its marketplace and payments ecosystem has a distinct position in the market, based on its core values and a results-driven management team.
In a statement, Trump Jr. said, “PublicSquare has a rapidly growing marketplace and payments ecosystem… The American people have affirmed the importance of liberty, and PublicSquare is at the forefront of this movement.”
This is not Trump Jr.’s first venture into the corporate world. He recently joined the board of Unusual Machines, a small drone maker, sending its shares up 100% on the day of the announcement. In November, he partnered with venture capital firm 1789 Capital, which invests in products and companies aimed at conservatives. PSQ Holdings director Kelly Loeffler, a former U.S. senator, also bought 1.2 million shares of the company on October 24 for approximately $3.25 million, further boosting her stake in the company with Tuesday’s rally.
