Finance

PSQ Holdings doubles, becoming latest stock to rip higher on news of Donald Trump Jr.’s involvement

Published

1 day ago

December 3, 2024

Donald Trump Jr. speaks with the media at the end of the debate between Republican vice presidential nominee U.S. Senator JD Vance (R-OH) and Democratic vice presidential nominee Minnesota Governor Tim Walz hosted by CBS in New York, U.S., October 1, 2024.

Brendan Mcdermid | Reuters

Talks of Donald Trump Jr. joining the board of PSQ Holdings sent the owner of the online marketplace PublicSquare skyrocketing on Tuesday.

The stock surged 130% in premarket trading after Bloomberg News reported, citing people with knowledge of the matter, that the eldest son of President-elect Donald Trump could join PSQ’s board as early as Tuesday.

PublicSquare is a commerce and payments company with a focus on “life, family, and liberty.” PSQ is a microcap stock with a market capitalization of only $72 million as of Monday’s close.

For the September quarter, the firm had net revenue of $6.5 million and operation 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. joined the board of Unusual Machines, a small U.S. drone and drone component maker, sending shares up as much as 100% the day of the announcement.

In November, Trump Jr. joined venture capital firm 1789 Capital as a partner. The firm invests in products and companies aimed at conservatives and its investments include Tucker Carlson’s media company.

Finance

Watch Fed Chair Jerome Powell speak live at the Dealbook conference

Published

7 minutes ago

December 4, 2024

Business Finance News

[The stream is slated to start at 1:40 om ET. Please refresh the page if you do not see a player above at that time.]

Federal Reserve Chair Jerome Powell speaks Wednesday at the New York Times DealBook conference.

The appearances comes two weeks ahead of when the central bank will announce its decision on interest rates and is Powell’s last public appearance before then.

Markets strongly expect the Fed to lower its benchmark interest rate by another quarter percentage point from its current target range of 4.5%-4.75%. The rate-setting Federal Open Market Committee lowered the federal funds rate by a combined three quarters of a point at its September and November meetings.

In recent days, policymakers have expressed come concern about the recent edge up in the inflation rate, indicating a cautious approach on policy as they watch the data.