Don Jr.'s 'Amazon of Guns' Immediately Tanks on Stock Market Debut [View all]

Source: msn/Daily Beast

8h

A gun-selling venture backed by Donald Trump Jr. had an abysmal opening day on Wall Street.

GrabAGun—an online firearms marketplace that Don Jr.’s business partner, Omeed Malik, has described as the “Amazon of guns”—opened on the New York Stock Exchange Wednesday. But Trump and Malik’s jubilant chants of “U.S.A.! U.S.A! at the opening bell turned to frowns as the company’s shares plummeted 25 percent by 3 p.m.

Don Jr. had bought 300,000 shares in an affiliate company and sits on GrabAGun’s board, Bloomberg reported. The share price ended the day 24 percent down, shearing $1 million off Don Jr.’s holdings, though his shares were still worth $4 million at the closing bell.

Don Jr. and Malik are partners at 1789 Capital, an investment group that focuses on the “anti-woke” economy.

Read more: https://www.msn.com/en-us/money/news/don-jr-s-amazon-of-guns-immediately-tanks-on-stock-market-debut/ar-AA1INdVU