Trump Jr. Board Appointment Spurs PSQ Holdings Share Surge

On Tuesday, PSQ Holdings Inc. experienced a significant 82% increase in its stock value following news that Donald Trump Jr. is set to join the board of the company, which owns the online marketplace PublicSquare. The anticipated board appointment, as reported by Bloomberg, has not been officially announced, and both PSQ Holdings and Trump Jr. have not commented on the matter.

PSQ Holdings, headquartered in West Palm Beach, Florida, operates PublicSquare, a platform designed to connect "patriotic" businesses and consumers. The company is striving to create what it calls a "parallel economy," focusing on values such as faith and family. Michael Seifert, the CEO of PSQ Holdings, became acquainted with Trump Jr. in 2022 through Alex Bruesewitz, an adviser to then President-elect Donald Trump.

Donald Trump Jr.'s involvement with PSQ Holdings began early in the year when he invested in the company, now holding more than 550,000 shares. His connections have been instrumental in the company's strategic moves, including an introduction to Omeed Malik, who facilitated PSQ Holdings' decision to go public via a special purpose acquisition company in February 2023.

The news of Trump Jr.'s board membership at PSQ Holdings comes shortly after he joined the board of Unusual Machines, Inc. (NYSE American: UMAC), a drone manufacturer based in the United States. His appointment to Unusual Machines also resulted in a notable increase in the company's share price.

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Source: Investing.com