GrabAGun Digital Holdings stock falls 30% in second day of trading, extending losses from debut.

GrabAGun Digital Holdings, an online gun seller backed by Donald Trump Jr., has seen its stock drop 30% in its second day of trading. The digital firearms seller counts Trump Jr. as a member of its board of directors. The stock has plunged since its market debut, with shares down as much as 30% on Thursday. Trading under the ticker PEW, GrabAGun operates in the unique market niche of selling firearms and ammunition over the internet.

GrabAGun Digital Holdings, an online gun seller backed by Donald Trump Jr., saw its stock drop 30% in its second day of trading. The digital firearms seller counts Trump Jr. as a member of its board of directors. The stock has plunged since its market debut, with shares down as much as 30% on Thursday. Trading under the ticker PEW, GrabAGun operates in the unique market niche of selling firearms and ammunition over the internet.

GrabAGun went public through a merger with special acquisition company (SPAC) Colombier Acquisition Corp. on Wednesday, raising over $119 million in gross proceeds [1]. The company aims to use these funds for working capital and other purposes to accelerate future growth.

The stock's performance has been closely watched due to the high-profile involvement of Trump Jr. and his business partner, Omeed Malik. Trump Jr. has been vocal about his belief that the public listing of GrabAGun is a symbol of the repudiation of anti-gun "woke" policies [2]. GrabAGun's shares are trading under the symbol PEW, which Trump Jr. says represents the sound of shooting a gun.

Despite the initial excitement surrounding the public listing, GrabAGun's stock has faced significant volatility. The company's stock price dropped by 21% in midday trading on Thursday, following its market debut. This volatility is not uncommon for companies that go public through SPAC mergers, which often face higher levels of scrutiny and market uncertainty compared to traditional IPOs [3].

GrabAGun's business model is focused on making firearms and ammunition more accessible to consumers, particularly those who may find traditional brick-and-mortar gun stores intimidating or inaccessible. The company aims to cater to a growing segment of the market, including young people and women, who support the Second Amendment [2].

As GrabAGun continues to navigate the volatile stock market, investors will be closely watching the company's ability to execute its growth strategy and adapt to changing market conditions. The company's long-term success will depend on its ability to attract and retain customers, manage its supply chain, and navigate regulatory challenges in the firearms industry.

References:
[1] https://www.foxbusiness.com/fox-news-politics/trump-jr-takes-gun-company-public-at-nyse-hoping-end-woke-mindset-new-cultural-shift
[2] https://www.yahoo.com/news/donald-trump-jr-led-online-165536604.html
[3] https://abcnews.go.com/Business/wireStory/online-gunseller-donald-trump-jr-board-makes-market-123803953