Conservative online marketplace Public Square or PublicSq (NYSE:PSQH) made its trading debut yesterday. Described as a right-wing alternative to Amazon (NASDAQ:AMZN), the company lists its values as: “Pro-Life, Pro-Family, Pro-Freedom.” According to the conservative Post Millennial, chants of “USA” erupted throughout the New York Stock Exchange PSQH stock began to trade. That would certainly be in keeping with the company’s “pro-America” image. Benzinga reports the stock has been performing well since it went public with heavy trading volume, despite some volatility. It joins the ranks of Digital World Acquisition Corp (NASDAQ:DWAC) and Rumble (NASDAQ:RUM), two companies that strongly benefit from conservative political momentum.
Does this mean that this recent initial public offering (IPO) is a good buy? The past two quarters haven’t been good for either DWAC or RUM. Here’s what investors should know about the latest Trump trade.
What to Know About PSQH Stock
- PublicSq has signed on to be one of the first advertisers on Tucker Carlson’s new show broadcast on Twitter. The deal is said to be worth seven figures.
- The company is branding itself as the “anti-woke” version of Amazon, claiming to be offering investors a “starting point” for shoppers seeking to fight against environmental, social and governance (ESG) policies.
- PSQH stock went public via a special purpose acquisition company (SPAC) merger with Colombier Acquisition Corp.
- Fox Business reports that PublicSq currently boasts roughly 1.1 million consumers, with 55,000 businesses listing merchandise on it.
- The company may have benefitted from the backlash against Anheuser-Busch (NYSE:BUD) when the beer brewing company partnered with transgender influencer Dylan Mulvaney. Founder and CEO Michael Seifert claims that searches for beer on the platform shot up in the face of the controversy.
- Seifert has made it clear that he plans on “going after Amazon,” although PublicSq will have to grow significantly before it can rival such an industry giant.
- According to a statement released by PublicSq, the “patriotic economy can be a major force in commerce.” How well PSQH stock performs will determine if that is true.
On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
