GrabAGun Shares Dive 24% in NYSE Debut Despite $119M SPAC Merger Boost

Online firearms retailer GrabAGun Digital Holdings experienced a turbulent debut on the New York Stock Exchange, trading under the ticker symbol "PEW." The company, backed by Donald Trump Jr., witnessed its shares initially spike before closing down by nearly 24%. This move to the public market was facilitated through a special purpose acquisition company (SPAC) merger with Colombier Acquisition Corp., a transaction that netted GrabAGun over $119 million post-expenses. These funds are allocated for working capital and various strategic initiatives aimed at accelerating the company's growth.

The decision to utilize a SPAC allowed GrabAGun a streamlined path to becoming publicly traded, bypassing some of the traditional scrutiny involved with a standard IPO. Such companies, often referred to as "blank check" companies, are increasingly popular for businesses seeking a faster route to market.

GrabAGun, based in Palm Beach, Florida, and doing business as an online firearms, ammunition, and accessories retailer, saw interest in its operations and governance amplified by the presence of Trump Jr. on its board. Since his father’s election, Trump Jr. has been appointed to several corporate boards, reflecting a business strategy that leverages his family's name for potential credibility and reach.

The influx of capital from the public listing is intended to bolster GrabAGun's operations and expand its existing platform. The company reported revenue exceeding $90 million last year, with first-quarter earnings for 2025 at $23.3 million, down from $26.6 million, yet maintaining profitability.

GrabAGun's entry to the stock market marks a significant expansion step for the Dallas–Fort Worth-based online retailer. As the company eyes future growth, CEO Marc Nemati expressed confidence in their technology-centric approach, aiming to revolutionize the shooting sports industry while expanding market presence.