The end of the debate between Republican vice presidential candidate Sen. J.D. Vance (R-Ohio) and Democratic vice presidential candidate Tim Walz of Minnesota hosted by CBS on October 1, 2024 in New York, United States. Donald Trump Jr. speaks to the media. .
Brendan McDiarmid | Reuters
Shares of the owner of online marketplace Public Square soared on Tuesday following talk that Donald Trump Jr. will be joining PSQ Holdings’ board of directors.
The stock rose more than 130% in morning trading after Bloomberg News reported, citing people familiar with the matter, that President-elect Donald Trump’s eldest son could join PSQ’s board as soon as Tuesday.
PublicSquare is a commerce and payments company focused on “Life, Family, and Freedom.” PSQ is a microcap stock with a market capitalization of just $72 million as of Monday’s close.
In the September quarter, the company had net revenue of $6.5 million and an operating loss of more than $14 million. Based in West Palm Beach, Florida, PSQ is a 16-minute drive from Mar-a-Lago, the president-elect’s primary residence.
PSQ Holdings declined CNBC’s request for comment.
Just last week, Trump Jr. joined the board of Unusual Machines, a small U.S. manufacturer of drones and drone parts, and the company’s stock price rose 100% on the day of the announcement.
In November, Trump Jr. joined venture capital firm 1789 Capital as a partner. The company invests in conservative products and companies, including in Tucker Carlson’s media company.
PSQ board member Kelly Loeffler, a former senator from Georgia, bought 1.2 million shares of the payments company’s stock on Oct. 24 for about $3.25 million, according to a regulatory filing. Her stakes will likely increase in value with Tuesday’s rally.
