PSQ Holdings, an online commerce and payments company that describes itself as “valuing life, family and liberty,” saw its shares shoot up more than 270% on Tuesday amid news that Donald Trump Jr. is joining its 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 to high-quality businesses that share their values, both online and in their local communities.”
“With a rapidly growing marketplace and payments ecosystem, PublicSquare has a distinct position in the market based on the core tenets of our nation’s founding, paired with a results-driven management team,” Trump Jr. said in a statement. “The American people have affirmed the importance of liberty, and PublicSquare is at the forefront of this movement.”
In a news release, PublicSquare CEO Michael Seifert said Trump Jr., the son of President-elect Donald Trump, is focused on creating a “cancel-proof” economy. He also touted Trump Jr.’s business experience and highlighted his “leadership” in the shooting sports industry.
PSQ also announced that financial industry executive Willie Langston, a partner with Houston, Texas-based asset management and advisory firm Corient, will join its board.
PSQ in November reported a third-quarter net loss of $13.1 million on revenue of $6.5 million. The company’s stock on Monday surged $5.57 to end at $7.63, more than tripling PSQ’s market value from around $72 million on Monday to more than $265 million by the close of trade on Tuesday.
Alain Sherter is a senior managing editor with CBS News. He covers business, economics, money and workplace issues for CBS MoneyWatch.
The post Donald Trump Jr. joins e-commerce company, sending its shares up 270% appeared first on CBS News.
