Donald Trump Jr. and financier Omeed Malik returned to the New York Stock Exchange (NYSE) this week to ring the opening bell for the IPO of GrabAGun, a conservative-aligned online firearms retailer. The launch marks the latest chapter in their effort to build what they call a “parallel economy,” where businesses cater to right-leaning consumers who reject what they describe as “woke capitalism.”
GrabAGun, often referred to as the “Amazon of guns,” went public on July 16 through a merger with Colombier Acquisition Corp. II, a special purpose acquisition company (SPAC) led by Malik. The company raised $179 million in gross proceeds, and will trade under the ticker symbol “PEW.” However, its debut was rocky—shares fell more than 20% on the first day of trading.
Trump Jr., who joined GrabAGun’s board, and Malik have previously launched similar ventures, including the public listing of PublicSquare—a Yelp-like conservative business directory—in 2023. That platform, while not yet profitable, has shown growth, with first-quarter 2025 revenue rising to $6.7 million, nearly double the previous year’s figure. Still, PublicSquare’s stock currently trades at just $2.37 per share, reflecting investor caution.
Despite these early setbacks, Malik and Trump Jr. see a long-term opportunity. “This is less than two years old,” Malik said, describing the movement as “nascent but durable.” They believe the political environment—especially with former President Trump back in office—has created fertile ground for a right-wing consumer ecosystem that includes firearms, tech, finance, and media.
Their broader strategy includes launching more conservative-friendly businesses into public markets through SPACs. Malik confirmed they plan to take another ideologically aligned company public soon. “We will do another SPAC,” he said. “We’ll be back in the market for another high-profile, meaningful company.”
GrabAGun was first connected to Trump Jr. and Malik through PublicSquare, which provides payment processing services for the gun retailer. That relationship grew into an investment opportunity, further cementing what Malik describes as an interconnected “ecosystem” of like-minded businesses.
Critics have questioned whether the Trump family’s business ventures create potential conflicts of interest, especially as former President Trump resumes official duties. The White House maintains that his children now control his assets and deny any ethical violations.
For Trump Jr., the GrabAGun IPO is more than a financial transaction—it’s part of a larger cultural mission. “We’ve been talking about these ideas for five years,” he said. “It’s about building something that lasts, not just chasing political winds.”
As conservative-aligned companies seek to make their mark on Wall Street, observers remain divided on whether this emerging “MAGA economy” will endure beyond the political figures who inspired it.
