5 Investors Betting Big on Phunware (PHUN) Stock


  • Shares of Phunware (PHUN) stock more than quadrupled in today’s session on high volume.
  • This strong move appears to be related to the company’s previous ties to former President Trump.
  • Here are the five largest holders of the stock that have benefited most from today’s move.
PHUN stock - 5 Investors Betting Big on Phunware (PHUN) Stock

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Investors looking for big penny stock moves have seen some rather dramatic pops in key Trump-related stocks today. Phunware (NASDAQ:PHUN) has seen a significant amount of buying interest, with PHUN stock more than quadrupling in today’s session.

Much of the enthusiasm around this little-known software developer appears to be tied to a previous contract with the Trump campaign to design a phone app for the former President’s reelection campaign. Heavy trading volume has now lifted shares of PHUN stock from around 7.5 cents at yesterday’s close to more than 35 cents at the time of writing. That’s a massive move, and for a stock this cheap, it’s assuredly made some speculators very happy.

Phunware and other Trump-related stocks have been buoyed by a big win in Iowa yesterday and have been riding this momentum higher throughout the day. Let’s dive into who’s profiting most from this massive surge today.

The 5 Biggest Investors in PHUN Stock

For context, this data is pulled from Yahoo Finance.

  • Vanguard leads the pack in terms of Phunware ownership, holding 5.25 million shares worth around $1.7 million.
  • Blackrock (NYSE:BLK) comes in second place, with 1.04 million shares, worth around $340,000.
  • Geode Capital Management owns just shy of 1 million shares and roughly $325,000 worth of PHUN stock.
  • Morgan Stanley (NYSE:MS) is another big player, owning more than 420,000 shares worth more than $137,000.
  • Finally, State Street (NYSE:STT) rounds out this list, with just under 320,000 shares of PHUN stock worth around $105,000 at the time of writing.

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On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.

Article printed from InvestorPlace Media, https://investorplace.com/2024/01/5-investors-betting-big-on-phunware-phun-stock/.

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