Phunware (NASDAQ:PHUN) stock is on the rise Tuesday despite a lack of news from the integrated software platform company.
There are no new press releases that explain why PHUN stock is rallying today. The same holds true for filings with the Securities and Exchanges Commission (SEC). No analysts are offering new coverage of the stock today, either.
Even without news, shares of PHUN stock are seeing heavy trading on Tuesday. That has more than 72 million shares changing hands as of this writing. For the record, its daily average trading volume is close to 4 million shares.
Is Donald Trump Rallying PHUN Stock?
Stocks connected to former President Donald Trump are rallying on Tuesday. That comes after the presidential candidate won the Republican contest in Iowa for the 2024 elections.
News of Trump’s victory in the state is boosting stocks as investors celebrate the news. It’s possible this could lead to further rallies for those companies as the 2024 presidential elections continue. However, a loss for Trump could reflect badly on these stocks as well.
PHUN stock is up 57.2% as of Tuesday morning. That’s a welcome change for investors compared to its 5.3% drop year-to-date date of Friday’s close.
Investors looking for more of the latest stock market stories will want to stick around!
InvestorPlace is home to all of the hottest stock market news that traders need to know about on Tuesday! Among that is what’s sending shares of Rail Vision (NASDAQ:RVSN) stock higher, the biggest pre-market stock movers this morning and more. All of that news is ready to go at the links below!
More Stock Market News for Tuesday
- Why Is Rail Vision (RVSN) Stock Up 73% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
- TRX Stock Earnings: TRX Gold Misses Revenue for Q1 2024
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On the date of publication, William White 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.
