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Trump Jr.’s ‘Amazon for Guns’ Business Is Firing Blanks
In a move that has left many in the business world scratching their heads, Donald Trump Jr. has launched an online marketplace specifically catering to gun enthusiasts, aptly dubbed “GrabAGun”. Despite the bold name and lofty ambitions, it seems that the project is already floundering.
On Wednesday, GrabAGun went public by merging with a SPAC (Special Purpose Acquisition Company) owned by Omeed Malik. However, this attempt at going public has been met with apathy by investors, as the stock price plummeted to around $14 per share by the end of the trading day. This significant drop in value is likely to put a dent in Trump Jr.’s holdings, considering he purchased 300,000 shares of the company.
It’s not just the financial performance that has raised eyebrows; GrabAGun’s concept itself seems… questionable. The platform aims to create an “Amazon for guns” where gun enthusiasts can browse and purchase firearms, ammunition, and accessories. While it’s understandable to question the market potential of such a business, it’s even more baffling considering Trump Jr.’s venture capital firm, 1789 Capital, has been involved in various other ventures that seem to have little to no connection with guns.
This new development may raise some questions about Trump Jr.’s business acumen, given his track record. His company has backed a wide range of projects, from an “anti-woke” social club in Washington D.C. to the Tucker Carlson Network. It’s worth noting that GrabAGun is just the latest in a long line of questionable investments for 1789 Capital.
GrabAGun’s failure can’t be attributed solely to its name; it seems that Trump Jr.’s business acumen is called into question once again.
Source: gizmodo.com
