After Dominari Holdings revealed that President Donald Trump’s sons, Eric Trump and Donald Trump Jr., had joined its advisory board, the stock of the holding company surged on Tuesday.
After reaching a record high of 83.9%, the stock rose by around 30%. Wealth management, investment banking, sales, and trading are all activities that Dominari engages in through its subsidiaries.
The company is a so-called microcap, with a market value of about $51.5 million.
The company just underwent a private placement investment round in which Trump Jr. and Eric Trump took part.
In addition to its board announcing a special cash distribution of $4 million, Dominari announced a $13.5 million registered direct and private placement offering on Tuesday.
Kyle Wool, CEO of Dominari, stated that his company is searching for investment opportunities, the data centre and artificial intelligence sectors being of special interest.
Source (CNBC)
