Phunware Stock Skyrockets Amid Trump Association and Market Momentum: What's Going On

Phunware, Inc. PHUN shares are trading higher today amid sympathy with Trump Media & Technology Group Inc. DJT, before being halted due to a circuit breaker as the stock climbed further. Here’s what you need to know.

What To Know: Trump Media & Technology Group recently launched its Truth+ streaming service, which became accessible via the web and an Android app. The platform is expected to expand further with an iOS app version and availability on platforms like Apple TV, Amazon Fire and Android TV.

Trump Media is also launching the WLFI token through a new project, World Liberty Financial, which aims to establish a crypto bank allowing users to borrow, lend and invest in digital assets. The venture is expected to raise $300 million, with a projected valuation of $1.5 billion.

Why It Matters: Phunware’s connection to Former President Donald Trump stems primarily from its involvement in developing and managing the mobile application for Trump’s 2020 re-election campaign. Phunware's platform was utilized to power the Trump-Pence campaign’s digital strategy, which included voter engagement, content distribution and communications. The app was designed to help mobilize Trump supporters, organize events and provide updates during the campaign. This tie to Trump’s political efforts has embedded Phunware within the broader ecosystem of Trump-linked media and technology companies

PHUN Price Action: Phunware were up by 38.7% at $6.54 at the time of writing, according to Benzinga Pro.

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