By Niket Nishant and Manya Saini (Reuters) -Donald Trump Jr.-backed GrabAGun's shares slipped 22% on Thursday, deepening their post-debut slide and highlighting the degree of investor scrutiny even newly listed companies with high-profile backers are being subjected to.

Steps away from the Trump Organization’s 40 Wall Street building, Donald Trump Jr. on Wednesday heralded the debut of a gun retailer that made him $4 million richer.

Donald Trump Jr.-backed GrabAGun saw its shares rise 2% in premarket trading Thursday after plunging 24% during its NYSE debut following a SPAC merger. Trump Jr. owns about 300,000 shares valued at about $4 million and sits on the company’s board.