Wednesday Dec 4 2024 08:40
4 min
PSQ Holdings, the parent company of online marketplace PublicSquare, PSQH Stock soars on Tuesday following the announcement of Donald Trump Jr. joining its board.
PSQH Stock surged 270.4% to $7.63 after the company announced that the eldest son of President-elect Donald Trump is joining PSQ’s board. Bloomberg News reported on the move earlier Tuesday.
PSQH stock analysis: PublicSquare is a commerce and payments company dedicated to the principles of “life, family, and liberty.” As of Monday’s close, PSQ is classified as a microcap stock with a market capitalization of just $72 million.
Michael Seifert, chairman and CEO of PublicSquare, stated, “Don has been an investor in PublicSquare since before our IPO. His commitment to building a ‘cancel-proof’ economy, along with his extensive business experience and leadership in the shooting sports industry, brings valuable expertise to our board.”
For the September quarter, PublicSquare reported net revenues of $6.5 million, but faced operating losses exceeding $14 million. The company is based in West Palm Beach, Florida, just a 16-minute drive from Mar-a-Lago, the primary residence of the president-elect.
Trump Jr. commented, “With a rapidly growing marketplace and payments ecosystem, PublicSquare occupies a unique position in the market, grounded in the core principles of our nation's founding and supported by a results-driven management team. The American people have recognized the significance of liberty, and PublicSquare is leading the charge in this movement.”
Just last week, Trump Jr. was appointed to the board of Unusual Machines, a small U.S. drone manufacturer, which resulted in a remarkable 100% increase in PSQH Stock on the day of the announcement.
In November, he also joined 1789 Capital, a venture capital firm focused on investments in products and companies catering to conservative audiences, including Tucker Carlson’s media company.
Additionally, PSQ director Kelly Loeffler, a former U.S. senator from Georgia, purchased 1.2 million PSQH Stock of the payments company on October 24 for approximately $3.25 million, as reported in a regulatory filing. Her investment saw significant gains following Tuesday’s stock surge.
Donald Trump Jr. serves as the Executive Vice President of Development & Acquisitions at The Trump Organization, Inc. He recently announced his partnership with 1789 Capital, a venture capital firm focused on investing in companies aligned with a conservative worldview, and will assist in raising capital for the firm. Since 2024, he has also been a Director at Trump Media & Technology Group.
In his role at The Trump Organization, Mr. Trump oversees project acquisition and development globally, managing a portfolio of over 70 projects. He is actively involved in all phases of real estate development, including deal evaluation, analysis, pre-development planning, construction, branding, marketing, operations, sales, and leasing.
Additionally, Mr. Trump is a highly regarded speaker, having delivered numerous presentations across the United States and internationally. He holds a Bachelor’s degree in Finance and Real Estate from the Wharton School of Finance at the University of Pennsylvania.
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