The latest stock to surge is PSQ Holdings, following the news of Donald Trump Jr.'s involvement.

On Tuesday, the owner of the online marketplace PublicSquare experienced a surge in stock prices after news broke that Donald Trump Jr. had joined the board of directors.

After Bloomberg News reported that the eldest son of President-elect Donald Trump could join PSQ's board as early as Tuesday, the stock surged 130% in premarket trading.

PSQ is a small-cap commerce and payments company that prioritizes "life, family, and liberty."

The firm's net revenue for the September quarter was $6.5 million, while its operation losses exceeded $14 million. PSQ, a West Palm Beach, Florida-based company, is just a 16-minute drive from Mar-a-Lago, the president-elect's primary residence.

PSQ Holdings declined CNBC's request for comment.

Unusual Machines' shares surged by up to 100% the day after Trump Jr. joined its board.

In November, 1789 Capital appointed Trump Jr. as a partner. The firm specializes in investing in conservative-oriented products and companies, with Tucker Carlson's media company among its portfolio.

On October 24, Kelly Loeffler, the former U.S. Senator from Georgia and current PSQ director, purchased 1.2 million shares of the payments company for approximately $3.25 million. As per a regulatory filing, her stake will increase in value with the upcoming rally on Tuesday.