Zinger Key Points
- Phunware stock rises over 30% on Tuesday.
- The move is linked to volatility in Trump-related stocks due the New Hampshire primary.
Phunware, Inc. PHUN shares traded higher on Tuesday amid volatility in Trump-related stocks due the New Hampshire primary.
What To Know: The stock surged higher by over 30% as it appears likely that Donald Trump will win the Republican presidential primary in New Hamsphire on Tuesday.
Shares of Phunware, as well as other stocks associated with Trump, including Digital World Acquisition Corp. DWAC and Rumble Inc. RUM, have been volatile recently amid the former President's growing chances in the 2024 election.
Trump-related stocks have rallied recently following Trump's victory in the Iowa caucus as well as due to Vivek Ramaswamy and Ron Desantis dropping out and endorsing him.
Related Link: Why Are Tencent And NetEase Shares Up Today? Hint: It Has To Do With Chinese Goverment Gaming Regulations
PHUN Price Action: Shares of Phunware were up 19.9% at $0.42 at the close of the market, according to Benzinga Pro.
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