Donald Trump Jr. speaks to the media at the end of the debate between Republican vice presidential candidate U.S. Senator JD Vance (R-OH) and Democratic vice presidential candidate Minnesota Governor Tim Walz, hosted by CBS in New York, USA, October 1, 2024.
Brendan Mcdermid | Reuters
There is talk of Donald Trump Jr. joining. to the board of directors PSQ holdings Shares of the owner of the online marketplace PublicSquare shot up on Tuesday.
The stock rose more than 130% in morning trading after Bloomberg News reported, citing people with knowledge of the matter, that the eldest son of newly elected President Donald Trump could join PSQ's board as soon as Tuesday.
PublicSquare is a trading and payments company with a focus on 'life, family and freedom'. PSQ is a microcap stock with a market cap of just $72 million as of Monday's close.
For the September quarter, the company had net sales of $6.5 million and operating losses of more than $14 million. West Palm Beach, Florida-based 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. resigned. to the board of Unusual Machines, a small American manufacturer of drones and drone parts, causing its shares to rise as much as 100% on the day of the announcement.
In November, Trump Jr. resigned. as a partner at venture capital firm 1789 Capital. The company invests in products and companies aimed at conservatives, including investing in Tucker Carlson's media company.
PSQ CEO Kelly Loeffler, a former U.S. senator from Georgia, bought 1.2 million shares of the payments company for about $3.25 million on Oct. 24, according to a regulatory filing. Her stake is expected to rise in value during Tuesday's rally.
