Trump Jr.'s Board Appointment Boosts PSQ Holdings Stock Price

On Tuesday, PSQ Holdings Inc. experienced a significant increase of 82% in its stock value following news that Donald Trump Jr. would be joining the company's board of directors. The company owns the online marketplace PublicSquare. The anticipated board appointment, reported by Bloomberg, has yet to be officially announced, and neither PSQ Holdings nor Trump Jr. has commented on the matter.

Based in West Palm Beach, Florida, PSQ Holdings operates PublicSquare, a platform designed to connect "patriotic" businesses and consumers. The company aims to create what it calls a "parallel economy," focusing on values such as faith and family. Michael Seifert, CEO of PSQ Holdings, met Trump Jr. through then-presidential candidate Donald Trump's advisor Alex Bruesewitz in 2022.

Donald Trump Jr.'s relationship with PSQ Holdings began earlier this year when he invested in the company, and he currently holds over 550,000 shares. His connections have proven influential in the company’s strategic moves, including facilitating an introduction to Omeed Malik, who helped the company decide to go public via a special purpose acquisition company in February 2023.

The news of Trump Jr. joining the PSQ Holdings board follows his recent appointment to the board of Unusual Machines, Inc., a drone manufacturer based in the United States (NYSE American: UMAC), which also led to a notable rise in that company's stock price.