Pew Stock Plunges 21% Post-SPAC Merger Debut Despite Strong Financial Performance

GrabAGun Digital Holdings, the Palm Beach-based online firearms retailer, marked its stock market debut on Wednesday under the ticker “PEW” at the New York Stock Exchange. The company, known for offering firearms, ammunition, and related accessories online, completed a merger with a special purpose acquisition company (SPAC), Colombier Acquisition Corp., securing over $119 million in net proceeds after transaction-related expenses. These funds are designated for working capital and initiatives aimed at accelerating growth.

The excitement surrounding the debut was evident as GrabAGun’s shares initially spiked but later saw a significant decline, plunging 21% in midday trading. This volatility is not uncommon for companies entering the market through SPAC mergers, often considered quicker alternatives to the traditional IPO process, yet sometimes circumventing extensive scrutiny.

Donald Trump Jr., son of the former U.S. president, serves on GrabAGun’s board and is recognized as both an adviser and shareholder. His association with the company has been speculated to enhance its visibility and potential investor interest, given prior instances where companies have seen their shares soar following his appointment to their boards.

With a reported annual revenue exceeding $90 million last year and first-quarter earnings of $23.3 million in 2025, GrabAGun remains profitable despite a slight quarter-over-quarter downturn. This financial standing underlines the company’s resilience and adaptability in a challenging market landscape.

Marc Nemati, CEO of GrabAGun Digital Holdings, expressed optimism following the public listing, emphasizing the company’s commitment to revolutionizing the shooting sports industry with a technology-first approach. This strategic move to the NYSE aligns with its broader ambitions to expand market presence and enhance its operational platform.

The market debut occurred only weeks after another local company, Caris Life Sciences, an Irving-based medical technology firm, went public, highlighting a trend of burgeoning enterprises in varied sectors leveraging public listings as a strategic growth strategy.

In collaboration with PSQ Holdings, Inc., known as PublicSquare, GrabAGun’s alignment with firms like Credova has enhanced its operational capabilities. PublicSquare’s fintech solutions allow GrabAGun to leverage advanced payment processing and consumer financing opportunities, fostering its financial stability and accommodating the growing customer base of firearm enthusiasts committed to constitutional rights.

Analysts predict that GrabAGun’s innovative customer engagement strategies, alongside its digital-first business model, may offer valuable growth opportunities amid shifting consumer dynamics. As GrabAGun navigates its post-listing trajectory, attention remains on its potential to cultivate a substantial market presence and deliver long-term investor value.