A gun seller’s shares tanked after Donald Trump Jr. debuted the company at the New York Stock Exchange.

Before ringing the opening bell on Wednesday, Trump explained why he was supporting GrabAGun.

“To be able to come back to the New York Stock Exchange and actually take a gun company public feels like such a vindication of all the insanity, all of the ‘woke’ nonsense that we’ve been watching and facing for the last decade in America,” he told Fox Business. “It’s an ultimate triumphant return.”

According to CNBC, the company’s share price was down more than 20% within hours of Trump’s announcement. The president’s son was projected to own about 1% of shares.

Republican Party megadonor Omeed Malik also backed the company.