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July 20 (UPI) — PublicSq Holdings Inc., the company behind the unique “patriotic” marketplace, made its debut on the New York Stock Exchange on Thursday. The company became public after merging with Colombier Acquisition Corp., a publicly traded company that facilitated its IPO, according to a release.
“We joined forces with PublicSq as we recognized that patriotic Americans feeling disconnected from the mainstream economy’s woke agendas represent an enormous untapped market,” stated Omeed Malik, Colombier’s CEO. Notably, Malik had faced allegations of sexual harassment during his tenure at Bank of America in 2018.
Omeed Malik, who reached a settlement with Bank of America for “wrongful termination,” expressed his excitement about serving as a member of PublicSq’s board, offering expertise and guidance during the company’s journey as a publicly listed entity.
The ceremonial ringing of the opening bell witnessed the presence of key individuals, including Michael Seifert, the CEO of PublicSq, and the post-closing board of directors and management team. Donald Trump Jr., an investor in the company and son of the former president, received immense support from the crowd, resulting in passionate “USA! USA!” chants that overshadowed CNBC’s Jim Cramer, who seemed visibly irritated while hosting Squawk on the Street.
Reacting to the incident, Michael Seifert acknowledged Jim Cramer’s unfamiliarity with the NYSE floor echoing with “USA” chants. He commended PublicSq’s team and their remarkable achievements over the past year.
The board of directors includes notable figures such as Ryan Kavanaugh, a renowned financier behind successful films like the Fast and Furious franchise, The Social Network, Limitless, Talladega Nights, and Step Brothers.
Following its debut, PSQH stock reached its peak value of $33.82, but eventually closed at $29.50, as per NASDAQ data. After-hours trading witnessed a further decline to $27.48.
PublicSq’s app, available for download on the Apple Store and Google Play store, has amassed over 100,000 downloads. However, it has received mixed reviews with a 3.7 rating on Google Play, with some users suggesting the app requires significant improvements.
Notably, the app mandates users to create an account and log in before accessing its content.
