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Why Phunware Stock Soared Today

TheMotleyFool

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Phunware (NASDAQ: PHUN) fought through turbulence in the broader market to post big gains in Tuesday's trading. The stock ended the daily trading session up roughly 12.5%. Meanwhile, the S&P 500 index was down roughly 1.8%.

There doesn't appear to be any fresh business-specific news behind's Phunware's surge, but Tuesday was a day of big gains for stocks associated with former president Donald Trump. Digital World Acquisition (NASDAQ: DWAC), which is set to merge with Trump Media & Technology, closed out the session up roughly 21.8%. Investors may be betting on a connection between the companies.

Image source: Getty Images.

Source Fool.com

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