Donald Trump Jr.’s enthusiastic tweet about Colombier Acquisition Corp. II ($CLBR) instantly pulled the little-traded SPAC onto Wall Street’s radar. In the days before and after his post, call-option premiums exploded from virtually nothing to more than half a million dollars a day, a jump that signals traders were betting the endorsement would lift the share price or at least ignite fresh volatility.
Colombier II is the blank-cheque vehicle set to merge with GrabAGun, a profitable, online-first firearms retailer that generated roughly $99 million in revenue and plans to list as GrabAGun Digital Holdings in mid-2025. The deal leans heavily on Second-Amendment branding: Trump Jr. himself will sit on the post-merger board alongside fellow conservatives Blake Masters and Colion Noir, while the Pulte Family Office has already bought in, underscoring institutional faith in the company’s growth path.
The SPAC raised about $170 million in its upsized January 2024 IPO and keeps those funds in trust until shareholders approve the business combination. Eight institutional investors own roughly half the float, and insiders hold another fifth, creating a tightly held structure that can magnify price swings when headline-driven volume arrives. That dynamic played out when Trump Jr. hinted at “big things coming,” sending speculative money into out-of-the-money calls and driving open interest on an option chain that had been practically dormant.
For GrabAGun the publicity is priceless. Its e-commerce model ships firearms to licensed dealers in all 50 states and taps a loyal, policy-driven customer base. By tying the brand to high-profile gun-rights advocates and bringing it to public markets, the company hopes to accelerate brand recognition, lower its capital cost and fund new fulfillment centres before the merger closing.
Yet the very ingredients that create buzz also invite scrutiny. Severe liquidity gaps, politically charged products and outsized options activity can breed sharp reversals if sentiment cools or regulatory headlines hit the sector. Long-term investors will weigh that risk against GrabAGun’s proven revenue, conservative inventory model and the deep-pocketed trust account that comes with a SPAC vehicle.
For now, Trump Jr.’s backing has transformed $CLBR from an obscure ticker into a volatile proxy for both firearms demand and the influence of political endorsements in modern markets. Future catalysts — a definitive merger vote, updated financials, or additional celebrity board additions — could extend the fireworks. But the episode already shows how a single tweet can turn a sleepy SPAC into one of the busiest names on the options tape overnight.