PSQ Holdings, an online trading and payments company that describes itself as “valuable for life, family and freedom,” saw its shares soar more than 270% on Tuesday, amid news that Donald Trump Jr. joins the board of directors.
PSQ, based in West Palm Beach, Florida, operates PublicSquare, an e-commerce platform that offers a range of consumer goods and services. The company, which also sells baby products under the EveryLife brand, describes its mission as one that “connects patriotic Americans with high-quality companies that share their values, both online and in their local communities.”
“With a rapidly growing marketplace and payments ecosystem, PublicSquare has a distinctive position in the marketplace based on the core principles of our country’s founding, combined with a results-oriented management team,” said Trump Jr. in a statement. “The American people have affirmed the importance of freedom, and PublicSquare is at the forefront of this movement.”
In a press release, PublicSquare CEO Michael Seifert said Trump Jr., the son of newly elected President Donald Trump, is focused on creating a “cancellation-proof” economy. He also praised Trump Jr.’s business experience. and emphasized his “leadership” in the shooting sports industry.
PSQ also announced that financial sector director Willie Langston, a partner at Houston, Texas-based asset management and advisory firm Corient, will join its board of directors.
PSQ in November reported a third-quarter net loss of $13.1 million on revenue of $6.5 million. The company’s shares rose $5.57 on Monday to close at $7.63, more than tripling PSQ’s market value from about $72 million on Monday to more than $265 million at the close of trading on Tuesday.
