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Kelsy
2021-12-11

PHUN Stock Cools Off Despite News the ‘Trump Trade’ Favorite Just Bought Bitcoin

Yesterday was a good day for “Trump trades,” as stocks linked to former U.S. President Donald Trump

PHUN Stock Cools Off Despite News the ‘Trump Trade’ Favorite Just Bought Bitcoin

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While there was no definitive reason why, the most likely cause was that a&nbsp;rumored partnership&nbsp;is forming between&nbsp;<b>Digital World Acquisition</b>(NASDAQ:<b><u>DWAC</u></b>) and&nbsp;<b>CF</b>&nbsp;<b>Acquisition Corp. VI</b>&nbsp;(NASDAQ:<b><u>CFVI</u></b>), the two blank-check acquisition firms that are gearing up to take public companies with strong ties to Trump. We’re still waiting for confirmation of this alleged deal, but in the meantime,<b>Phunware</b>(NASDAQ:<b><u>PHUN</u></b>), another company closely associated with Trump, is seeing a similar pattern. Indeed, PHUN stock has not been fun for investors to watch today.</p>\n<p>What’s Happening With PHUN Stock</p>\n<p>In the first hour of trading, PHUN stock has fallen by 8% and isn’t showing any signs of an immediate rebound. Yesterday’s growth still has it in the green for the week by nearly 10%, but this morning’s drop off is still significant. It’s interesting to note that both its peers, DWAC and CFVI, are down by just shy of 8%, all hovering in the red close to the same number.</p>\n<p>The way it looks from here, there are multiple factors at play regarding PHUN stock’s declines. There’s clear market momentum at play that’s driving the stock down as its larger peers face downward trajectories. However, it’s also worth noting that Phunware has recently been in the news for other reasons. The company has been on a&nbsp;<b>Bitcoin</b>(CCC:<b><u>BTC-USD</u></b>) buying spree throughout recent weeks. Late November saw it&nbsp;purchase 398 Bitcoin&nbsp;for a cash price of approximately $23.8 million while the cryptocurrency was priced at $59,917 apiece.</p>\n<p>Today it was announced that the software producer was&nbsp;expanding its Bitcoin holdings&nbsp;even further. The company has acquired 100 Bitcoin for roughly $4.8 million in cash with the average price per coin of $49,750.</p>\n<p>Why It Matters</p>\n<p>Clearly, Phunware was employing the popular strategy of buying the dip. It didn’t do much for PHUN stock prices, though, which fell by 4% in premarket trading. As<i>InvestorPlace</i>‘s David Moadel noted recently, “With Phunware,you’re investing in a business, not a coin.”</p>\n<p>Right now, it doesn’t seem like Phunware is a great business to invest in. The company’s ties to Trump stem from the fact that it provided software for his 2020 campaign. When DWAC began making headlines, investors began searching for the next stock to receive a “Trump bump,” and while PHUN stock did experience&nbsp;some gains&nbsp;amid the frenzy, they proved to be short lived.</p>\n<p>Since then, many experts have advised against buying Phunware on rumors alone.<i>InvestorPlace</i>contributor Stavros Georgiadisadvised against&nbsp;investing in it as a speculation play. Additionally, many others have echoed these reservations, labeling it as&nbsp;a penny stock to sell&nbsp;before 2022. Fellow contributor Dana Blankenhorn recently advocated against bullish plays on PHUN stock, arguing that the Bitcoin holdings would&nbsp;not be enough&nbsp;to help a stock that rose mostly on pure speculation.</p>\n<p>What It Means</p>\n<p>When it comes to investments like PHUN stock, it’s easy to be drawn into flash-in-the-pan hype, particularly when they are linked to someone like Trump. Indeed, the former president’s consistent coverage is hard to ignore. However, investors should keep in mind that the buzz that often surrounds these companies is exactly that — hype. And it hasn’t been enough to drive any sustainable growth.</p>\n<p>Frankly, there’s no reason it should. The best thing that we can say about Phunware is that it has worked with Trump before. There’s no immediate reason to suspect that his next campaign will employ its services. And more importantly, the company has no direct ties to any of the more popular Trump stocks. PHUN stock should serve as a reminder that speculation alone is often not enough to justify a bullish play, especially for investors with a long-term mindset.</p>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>PHUN Stock Cools Off Despite News the ‘Trump Trade’ Favorite Just Bought Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPHUN Stock Cools Off Despite News the ‘Trump Trade’ Favorite Just Bought Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-10 11:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/12/phun-stock-cools-off-despite-news-the-trump-trade-favorite-just-bought-bitcoin/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Yesterday was a good day for “Trump trades,” as stocks linked to former U.S. President Donald Trump enjoyed significant gains. While there was no definitive reason why, the most likely cause was that ...</p>\n\n<a href=\"https://investorplace.com/2021/12/phun-stock-cools-off-despite-news-the-trump-trade-favorite-just-bought-bitcoin/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PHUN":"Phunware, Inc."},"source_url":"https://investorplace.com/2021/12/phun-stock-cools-off-despite-news-the-trump-trade-favorite-just-bought-bitcoin/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162839981","content_text":"Yesterday was a good day for “Trump trades,” as stocks linked to former U.S. President Donald Trump enjoyed significant gains. While there was no definitive reason why, the most likely cause was that a rumored partnership is forming between Digital World Acquisition(NASDAQ:DWAC) and CF Acquisition Corp. VI (NASDAQ:CFVI), the two blank-check acquisition firms that are gearing up to take public companies with strong ties to Trump. We’re still waiting for confirmation of this alleged deal, but in the meantime,Phunware(NASDAQ:PHUN), another company closely associated with Trump, is seeing a similar pattern. Indeed, PHUN stock has not been fun for investors to watch today.\nWhat’s Happening With PHUN Stock\nIn the first hour of trading, PHUN stock has fallen by 8% and isn’t showing any signs of an immediate rebound. Yesterday’s growth still has it in the green for the week by nearly 10%, but this morning’s drop off is still significant. It’s interesting to note that both its peers, DWAC and CFVI, are down by just shy of 8%, all hovering in the red close to the same number.\nThe way it looks from here, there are multiple factors at play regarding PHUN stock’s declines. There’s clear market momentum at play that’s driving the stock down as its larger peers face downward trajectories. However, it’s also worth noting that Phunware has recently been in the news for other reasons. The company has been on a Bitcoin(CCC:BTC-USD) buying spree throughout recent weeks. Late November saw it purchase 398 Bitcoin for a cash price of approximately $23.8 million while the cryptocurrency was priced at $59,917 apiece.\nToday it was announced that the software producer was expanding its Bitcoin holdings even further. The company has acquired 100 Bitcoin for roughly $4.8 million in cash with the average price per coin of $49,750.\nWhy It Matters\nClearly, Phunware was employing the popular strategy of buying the dip. It didn’t do much for PHUN stock prices, though, which fell by 4% in premarket trading. AsInvestorPlace‘s David Moadel noted recently, “With Phunware,you’re investing in a business, not a coin.”\nRight now, it doesn’t seem like Phunware is a great business to invest in. The company’s ties to Trump stem from the fact that it provided software for his 2020 campaign. When DWAC began making headlines, investors began searching for the next stock to receive a “Trump bump,” and while PHUN stock did experience some gains amid the frenzy, they proved to be short lived.\nSince then, many experts have advised against buying Phunware on rumors alone.InvestorPlacecontributor Stavros Georgiadisadvised against investing in it as a speculation play. Additionally, many others have echoed these reservations, labeling it as a penny stock to sell before 2022. Fellow contributor Dana Blankenhorn recently advocated against bullish plays on PHUN stock, arguing that the Bitcoin holdings would not be enough to help a stock that rose mostly on pure speculation.\nWhat It Means\nWhen it comes to investments like PHUN stock, it’s easy to be drawn into flash-in-the-pan hype, particularly when they are linked to someone like Trump. Indeed, the former president’s consistent coverage is hard to ignore. However, investors should keep in mind that the buzz that often surrounds these companies is exactly that — hype. And it hasn’t been enough to drive any sustainable growth.\nFrankly, there’s no reason it should. The best thing that we can say about Phunware is that it has worked with Trump before. There’s no immediate reason to suspect that his next campaign will employ its services. And more importantly, the company has no direct ties to any of the more popular Trump stocks. PHUN stock should serve as a reminder that speculation alone is often not enough to justify a bullish play, especially for investors with a long-term mindset.","news_type":1},"isVote":1,"tweetType":1,"viewCount":964,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}