Have you ever heard of PSQ Holdings or PublicSquare? It is an online market that he is proud as a company that serves “customers and businesses that value life, family and freedom,” which seems in line with the well-known person who may join its board, if reports are true: Donald Trump Jr., son of the former and future president. Either way, the rumor sent the stock soaring.
Bloomberg reported that Trump Jr. could join the board as early as Tuesday, citing people familiar with the matter. Nothing has been confirmed or officially announced yet, aside from the chatter doubled holding company stock price in morning trading. It is interesting because in the last year its shares have recorded a downward trend. Of course, it’s unclear how long this rally will last, but as of Tuesday afternoon, the stock is trading at around $4 per share.
The PSQ did not immediately respond Fortune request for comment.
It just so happens that PSQ’s headquarters are minutes away from the center of the political universe: the president-elect’s primary residence, Mar-a-Lago, where politicians and the world’s richest man, Elon Musk, have been gathering in recent days.
This is not the first time that the name Trump pushed the shares of a company. Last week, Unusual Machines, a company that manufactures and sells drones and drone parts, announced Trump Jr. he was to become part of its advisory board. Shares rose more than 100% on the news, CNBC reported. “The need for drones is obvious. It’s also clear that we need to stop buying Chinese drones and parts of Chinese drones,” Trump Jr. said. in a statement accompanying the press release. “I love what Unusual Machines is doing to bring drone manufacturing jobs back to the US and I’m excited to take a bigger role in the movement.” However, Unusual Machine’s is worth noting stock it is currently down since Tuesday, trading at around $13 per share.
It appears that Trump Jr. holds shares in both companies, according to Bloomberg and CNBC. But in an ironic twist, the Unusual Machines recently discovered in the financial report that he is concerned about the impact the tariffs could have on his business — something Donald Trump campaigned on and recently signaled would deliver. “President-elect Trump is expected to threaten and may impose high tariffs on imports of goods from China, including the drones we use in our B2C business,” it said, referring to the business-to-consumer model. “If increased tariffs are imposed, it could materially and adversely affect our business and results of operations.”
Last month, Trump Jr. he chose to join a venture capital firm rather than be part of his father’s second administration. The firm, 1789 Capital, appears to invest in companies that appeal to conservative consumers, such as Tucker Carlson’s media venture, The New York Times reported.
