Trump Jr.’s GrabAGun Stake Worth $4 Million Even After 25% Drop

Steps away from the Trump Organization’s 40 Wall Street building, Donald Trump Jr. on Wednesday heralded the debut of a gun retailer that made him $4 million richer.

Inside the New York Stock Exchange, adorned with a colossal American flag over its facade, President Trump’s eldest son and Omeed Malik, founder of 1789 Capital, led a chant of “USA! USA!” among a crowd assembled on the floor minutes before the market open. Shortly after they rang the opening bell, GrabAGun, an online marketplace for firearms and ammunition, started trading under the ticker PEW.

Omeed Malik, founder of 1789 Capital, from center left, Marc Nemati, chief executive officer of GrabAGun Digital Holdings, and Donald Trump Jr., executive vice president of development and acquisitions for the Trump Organization, ring the opening bell on the floor of the New York Stock Exchange.

Photographer: Michael Nagle/Bloomberg

In a photoshoot outside, Trump ...