The surge started with Phunware completing its merger with capital investment firm Stellar Acquisition III. The deal brought Phunware onto the public markets after a decade of operations as a private company, while putting Stellar Acquisition's capital to use after two and a half years of accumulating funds without a clear target.
Full Answer
What happened to Phunware’s stock?
Oct 23, 2021 · By the close of trading, shares of Digital World Acquisition and Phunware were up 107% and 471%, respectively, after rising as much as 285% and 1,471% earlier in the day. So what
Why did digital world acquisition and Phunware stock skyrocket over 1000% last week?
Mar 16, 2022 · Why Is Phunware (PHUN) Stock Up Today? Phunware jumps after releasing anti-shorting initiative 4d ago · By Shrey Dua, InvestorPlace Assistant News Writer Mobile cloud-computing company Phunware...
What is Phunware (Phun) making new 52-week highs?
Oct 22, 2021 · Why Phunware Shares Are Soaring Today. Adam Eckert, Benzinga. Oct. 22, 2021, 09:24 AM. Phunware Inc (NASDAQ: PHUN) is surging on abnormally high volume Friday in sympathy with Digital World ...
Is Phunware Inc (Phun) surging alongside DWAC?
Oct 27, 2021 · What happened Digital World Acquisition ( DWAC 0.46% ) and Phunware ( PHUN 4.32% ) both saw their stock prices rocket over 1,000% at one point last week, as investors' excitement for the special...
Why is Phunware stock going up?
Phunware Soars on Pact With Parscale-Founded Consultancy Its stock spiked sharply in late 2021 after Trump confirmed his intention to launch a new social media company, which is to be folded into the already-public SPAC Digital World Acquisition Corp (NASDAQ:DWAC).
Is Phunware a good stock to buy?
Is PHUNWARE Stock a good buy in 2022, according to Wall Street analysts? The consensus among 2 Wall Street analysts covering (NASDAQ: PHUN) stock is to Strong Buy PHUN stock.
Will Phunware stock go up?
Stock Price Forecast The 4 analysts offering 12-month price forecasts for Phunware Inc have a median target of 5.38, with a high estimate of 6.25 and a low estimate of 3.75. The median estimate represents a +142.12% increase from the last price of 2.22.
When did Phunware go public?
December 26, 2018Where is Phunware traded and what is its symbol? Phunware is traded on the NASDAQ under the call letters PHUN. When did Phunware become a public company? Phunware completed a SPAC merger with Stellar Acquisition III, Inc on December 26, 2018.
Who owns phunware?
The company has more than 940 million monthly unique active devices and has 5 billion daily transactions....Phunware.TypePublicIndustryMobile software BlockchainFounded2009FoundersAlan Knitowski Luan DangHeadquartersAustin, TX Irvine, California San Diego, California Miami, Florida6 more rows
How many employees does phunware have?
93 employeesHow many Employees does Phunware have? Phunware has 93 employees.Dec 14, 2021
Is cassava a buy?
Cassava Sciences's analyst rating consensus is a 'Moderate Buy. This is based on the ratings of 5 Wall Streets Analysts.
How does phunware make money?
Most of its revenue really comes from three sources: healthcare companies, media companies and retailers. It charges companies SaaS fees but also makes money from ad fees.Nov 8, 2021
What does phunware produce?
Phunware, Inc. is the pioneer of Multiscreen-as-a-Service (MaaS), a fully integrated enterprise cloud platform for mobile that provides companies the products, solutions, data and services necessary to engage, manage and monetize their mobile application portfolios and audiences globally at scale.
Why did PHUN go up in 2019?
Phunware, founded in 2009, went public via a SPAC in December 2018 and came to some prominence in 2019 for its work with Donald Trump's re-election campaign.Oct 22, 2021
These popular Trump-related stocks reversed course after their huge gains last week
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What happened
Digital World Acquisition ( NASDAQ:DWAC) and Phunware ( NASDAQ:PHUN) both saw their stock prices rocket over 1,000% at one point last week, as investors' excitement for the special purpose acquisition company ( SPAC) and advertising software provider that are linked to former President Donald Trump reached a fever pitch.
So what
The decline in Digital World Acquisition's stock price appears to have been sparked by comments made by Trump before the market opened. Last week, investors cheered when the SPAC announced its plan to merge with Trump Media & Technology Group.
Now what
Former President Trump certainly doesn't lack ambition, but taking on companies like Facebook, Twitter, and Netflix all at the same time might be difficult even for him. Investors are beginning to rein in their near-term expectations, which could lead to further stock price declines for Digital World Acquisition and Phunware in the coming days.
What happened
Shares of Phunware (NASDAQ: PHUN) sank 53.7% in March, according to data from S&P Global Market Intelligence. The stock had its initial public offering in January and has gone on to have one of the most volatile runs of any company on the market this year.
So what
The company published full-year results on March 20, but it's not clear whether the earnings release significantly impacted the market's read on Phunware stock. Sales for the year rose roughly 16% to reach $30.9 million, and the company's adjusted loss per share for the period narrowed to $0.38 -- improving from a per-share loss of $1.06 in 2017.
Now what
Phunware stock has continued to plummet in April, with shares trading down roughly 60% in the month so far as the glow around the company's cryptocurrency and blockchain ambitions has continued to fade.
The Latest With PHUN Stock
Despite its big plunge in November, and its slide in December, Phunware shares continue to move lower. Since the start of the year, like with other low-priced, risky plays, investors have continued to move out of it.
The Takeaway With PHUN Stock
Following its impressive run last October, and its continued slide since then, many may see this as a meme play that’s had its day. Yet even from a high level view of its underlying business, you can see there’s more than that going on here.
