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PSQ Holdings skyrockets on reports Trump Jr will join board

Published: 10:58 03 Dec 2024 EST

E-commerce

PSQ Holdings shares skyrocketed on Tuesday in the wake of reports Donald Trump Jr was set to join the online marketplace owner’s board.

Shares surged 95.6% to $4.03 on Tuesday after Bloomberg reported President-elect Donald Trump’s eldest son could join the company as early as Tuesday.

Trump Jr last week joined the board of US drone firm Unusual Machines, sending its shares as much as 100% higher following the announcement.

His involvement with Florida-based PSQ began with an investment early this year, with Trump Jr said to have met CEO Michael Seifert back in 2022.

PSQ’s commerce and payments business PublicSquare advertises itself as “a place where you can buy everything your family needs from businesses who respect traditional American values”. 

The microcap’s market capitalization had sat at $72 million as of Monday’s close, with the surge in share price taking this above $147 million on Tuesday.

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