PublicSquare, an online marketplace described as “America’s woke-free marketplace,” has seen its value skyrocket after Donald Trump Jr. joined its board of directors. The company’s parent company, PSQ Holdings, surged by 90% on Tuesday morning and another 270% in the afternoon.
Trump Jr.’s investment in PublicSquare before its IPO and his commitment to the company’s mission have made investors believe the company has tremendous untapped potential. The board of directors now includes several prominent Republicans, including former Vice President Mike Pence’s chief of staff Nick Ayers and former US Senator Kelly Loeffler.
The market value of PSQ Holdings has more than quadrupled since Monday, reaching $265 million by Tuesday’s closing bell. Industry expert Steve Sosnick said investors are betting on the potential benefits of having a high-profile insider like Trump Jr., who could provide access to government contracts and greater exposure for the company.
This is not an isolated incident; another little-known stock, drone maker Unusual Machines, also saw significant gains after announcing Trump Jr.’s involvement. The company’s shares skyrocketed 85% on November 27 and surged by another 89% the following day.
Source: https://edition.cnn.com/2024/12/03/investing/trump-jr-stock-publicsquare-woke-free/index.html