Gone are the heydays of 2021 when the de-SPAC process would almost always result in outsized gains. However, today’s stock market debut of PublicSq. shares has revived the echoes of that bygone era, which was fueled by all of the stimulus-related excesses in the COVID recovery phase.
PublicSq. is an expressly anti-woke online marketplace for businesses that are considered “patriotic” – a euphemism for conservative-oriented establishments. Michael Seifert founded the company back in 2021 to provide a conservative alternative to the much more woke Amazon. The company has 1.1 million active customers and lists over 55,000 businesses – mostly small ones.
PublicSq. entered into a reverse-merger agreement with the SPAC Colombier Acquisition Corp a while back. The two entities have now formally consummated their merger agreement in what is known as the de-SPAC process. The shares of the combined company debuted on the New York Stock Exchange (NYSE) today under the ticker symbol PSQH.
This brings us to the crux of the matter. PublicSq. shares are up around 130 percent at the time of writing. This successful debut shows that there is a substantial appetite among investors to gain exposure to expressly partisan entities.
At the heart of the dramatic success of PublicSq. is a simplified verification process, whereby interested businesses are vetted to ascertain their “going concern” status. Partner businesses are also required not to take public positions that go against the platform’s core values.
Later this fall, PublicSq. will allow its app-based customers to add goods from multiple vendors in a single virtual shopping cart for a seamless checkout process.
Of course, on a more philosophical level, the success of PublicSq. does raise some very important questions regarding the cohesiveness of the society as a whole and whether an expressly partisan approach is about to become the norm in the commercial sphere.
Do you think the business model of PublicSq. is a sound one? Let us know your thoughts in the comments section below.
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