Why Trump-Linked Phunware Stock Is Shooting Higher
Portfolio Pulse from Erica Kollmann
Phunware, Inc. (NASDAQ:PHUN) shares surged amid volatility in Trump-related stocks following Trump's wins in the Missouri and Idaho Republican caucuses and a Supreme Court ruling ensuring Trump remains on the Republican primary ballot in all states. The court stated that Congress, not states, has the authority to enforce the 14th Amendment provision against federal office-seekers. Phunware does not pay dividends but may engage in capital allocation programs like stock buybacks. Phunware's stock price increased by 105% to $14.51.

March 04, 2024 | 4:22 pm
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Phunware's stock surged following Trump's caucus wins and a Supreme Court ruling favoring Trump's presence on the Republican primary ballot in all states.
Phunware's stock price increase is directly linked to Trump-related political developments and a Supreme Court ruling, which have historically influenced investor sentiment towards companies associated with Trump. The significant stock price movement indicates a strong short-term impact.
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