What is the opposite of the Midas touch? Whatever that is, Donald Trump Jr. seems to have it. On Wednesday, an online firearms seller backed by the President\u2019s favorite failson went public. It didn\u2019t take long for the public to say, \u201cNo thanks.\u201d On Wednesday, the company\u2019s stock price took a significant hit\u00a0by the end of the trading day.<\/p>\n
GrabAGun is a pretty simple concept. It\u2019s an online marketplace that specifically handles guns, ammunition, and firearm accessories. Trump Jr.\u2019s business partner, Omeed Malik, called the company the \u201cAmazon of guns,\u201d which is kind of a bold choice to name the company that could put you out of business in a snap if it decided it wanted to get into the firearms space. But nonetheless, the company went public Wednesday by merging with a SPAC owned by Malik\u2014a method of going public that has been notoriously unsuccessful<\/a>. It trades under the ticker PEW<\/a>. (Feel free to roll your eyes.)<\/p>\n Trump Jr. got a morning of glee out of it, ringing the bell to open the New York Stock Exchange and starting a chant of \u201cU.S.A.\u201d on the trading floor. He went on Fox Business<\/a> and took a victory lap, too. \u201cTo be able to come back to the New York Stock Exchange and actually take a gun company public feels like such a vindication of all the insanity, all of the \u2018woke\u2019 nonsense that we\u2019ve been watching and facing for the last decade in America,\u201d he said. \u201cIt\u2019s an ultimate triumphant return.\u201d<\/p>\n The triumph was short-lived. The company opened trading at $21.44 per share, which quickly sank to around $14 at the close of Wednesday. Things have not improved on Thursday, as the company is down around $10.20 at the time of publication. That\u2019s definitely put a dent in Don Jr.\u2019s holdings, as Bloomberg noted<\/a> that he bought 300,000 shares of the company.<\/p>\n GrabAGun is just the latest of many \u201canti-woke\u201d operations that Trump Jr. has pursued through his venture capital firm 1789 Capital. Trump\u2019s kid has also reportedly invested in the \u201cenhanced Olympics<\/a>\u201d that will allow athletes to use performance-enhancing drugs, a Republican social club in Washington, D.C.<\/a>, and the Tucker Carlson Network<\/a>.<\/p>\n If right-wingers can explain businesses with \u201cprogressive\u201d policies like diversity and inclusion taking a hit as \u201cGo woke, go broke,\u201d surely they can come up with a catchy slogan for when you haphazardly launch an anti-woke business that immediately plunges in value. Maybe \u201cIf it\u2019s Don Jr., it\u2019s probably a loser.\u201d Just spitballing.<\/p>\n","protected":false},"excerpt":{"rendered":"What is the opposite of the Midas touch? Whatever that is, Donald Trump Jr. seems to have it.…\n","protected":false},"author":2,"featured_media":4239,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[971,45,49,48,370,5044,5045,121,176],"class_list":["post-4238","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-amazon","tag-business","tag-ca","tag-canada","tag-donald-trump-jr","tag-grabagun","tag-guns","tag-stock-market","tag-stocks"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/4238","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=4238"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/4238\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/4239"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=4238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=4238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=4238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}