Phunware, Inc. PHUN witnessed a surge in its shares amidst the uncertain landscape of Trump-related stocks driven by the New Hampshire primary.
Dynamics of the Spike: The stock soared over 30% in response to growing speculations regarding the Republican presidential primary victory of Donald Trump in New Hampshire.
This rally was not limited to Phunware, as other stocks connected to Trump, such as Digital World Acquisition Corp. DWAC and Rumble Inc. RUM, also experienced heightened volatility due to Trump’s growing influence in the 2024 election.
Trump-related equities have been on a recent upswing following the former President’s victory in the Iowa caucus and endorsements by Vivek Ramaswamy and Ron Desantis.
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PHUN Price Action: At the market’s close, Phunware shares were up by a staggering 19.9% at $0.42, as reported by Benzinga Pro.
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