Using its MaaS platform, Phunware Inc. (NASDAQ: PHUN) offers software solutions that allow companies to monetize their mobile application portfolios. Since it is considered as one of the Trump stocks, PHUN stock has been landing on investors’ watchlists following speculations that former president Trump could run for the upcoming presidential elections. With Trump expected to announce his 2024 presidential bid tonight, PHUN stock is one to keep a close eye on as it could soar on the announcement.
PHUN Stock News
*Written October 22, 2021
PHUN is an integrated software company that offers mobile application, location tracking, blockchain, and advertising software. PHUN’s most recent catalyst was its acquisition of the privately-held Lyte Technology Inc. Lyte is a rapidly growing system integrator with a loyal and growing customer base. With this acquisition, PHUN can begin entering the high-performance personal computer market.
The HPC market is currently valued at $32 billion with a staggering CAGR of over 20% over the next five years. If this holds true, the market will more than double in the next five years, offering a great market opportunity to meet the sector’s rapidly growing demand. As is, Lyte’s technology and following will allow PHUN to deploy its decentralized data economy powered by PhunCoin and PhunToken. Therefore, this acquisition is part of the company’s plans to expand into the crypto market to seize upcoming blockchain initiatives which could land PHUN stock among hot stocks to buy now.
While the company hasn’t released any news that would constitute the pre-market surge, the 280% increase is likely in tangent with DWAC’s run up because of PHUN’s link to former President Donald Trump. Partnering with American Made Media Consultants, PHUN developed the official Trump 2020 mobile application solidifying it as part of the network of services for the 2020 Trump-Pence reelection campaign.
Since the announcement of TRUTH social‘s launch, investors have begun speculating that PHUN is involved with the platform’s development. While no official announcements have been made, the speculation and momentum following gains from DWAC appears strong enough to drive PHUN’s value in a sympathy play – potentially landing PHUN on many investors’ lists of hot stocks to buy.
Over the last three months, PHUN has witnessed an over 40% increase due to their expansion and Lyte acquisition. Despite today’s tantalizing surge, PHUN was already expected to see a value change due to the company’s continuing growth. However, the runup has likely overvalued the company and a future value correction should be expected.
*Updated November 9th, 2022
Since its acquisition of LYTE, PHUN has been working to expand its offerings’ reach as it looks to build its own blockchain ecosystem. For this reason, PHUN launched its own cryptocurrency – PhunCoin – making it the first publicly listed company to launch a cryptocurrency. This coin will facilitate all actions in PHUN’s ecosystem which has made the company issue the coin initially through Securitize – the first blockchain-enabled transfer agent registered with the SEC. In this way, PhunCoin is considered to be one of the first regulated cryptocurrencies designed for mainstream adoption.
Meanwhile, PhunCoin is pivotal in helping PHUN commercialize its decentralized data economy where customers could control their own data and get compensated when their data is purchased by brands. In light of this, PHUN stock could be poised for significant growth once the company’s ecosystem is completed successfully.
As for its other digital asset, PhunToken became available on Uniswap. At the same time, PHUN launched a new PhunToken website to improve users’ experience by supporting user generated content curation, liquidity deposits and yield farming for earning additional rewards. With the company constantly working to grow the PhunToken ecosystem, brands and consumers will be able to utilize the token to access the features of PHUN’s MaaS platform which allows for contextual engagement. Based on this, PHUN stock could have major long-term potential when this ecosystem is fully developed.
In terms of its MaaS business, PHUN has been working extensively to develop this business as it partnered with PrimusTech to expand its mobile offerings in the Asian market. Through this partnership, PHUN’s portfolio of smart solutions on mobile and its MaaS platform would be available to additional users since PrimusTech is considered to be an industry leader in the Asian market. In this way, PHUN could be set for significant financial growth in the future thanks to this partnership.
Moreover, PHUN entered into a strategic partnership with Accion Labs to provide mobile solutions for digital transformation. According to this partnership, Accion will be designated as a preferred partner in the implementation and customization of PHUN’s MaaS platform. At the same time, PHUN would be able to leverage Accion’s infrastructure to support its clients that require additional services beyond MaaS.
As a result of this partnership, PHUN appears to be poised for significant growth since its MaaS platform would become the mobile solution of choice for Accion’s international digital transformation services across 22 countries. Meanwhile, this partnership could allow PHUN to strike deals with some of the world’s largest brands who are already working with Accion to enhance their cloud and digital transformation services with its unique mobile solutions. In light of this, PHUN stock price could be well-positioned to increase in value in the future once the company realizes the full potential of this partnership.
Given the substantial potential of the company’s MaaS platform, PHUN has taken steps to protect its technology. With this in mind, the company was issued a Notice of Allowance for a patent application entitled “Monitoring Outdoor and Indoor Regions with Mobile Devices”. By expanding its MaaS platform’s patent portfolio with this patent, PHUN could develop a new service for monitoring a user who crosses from an outdoor location via GPS to an indoor location via Wi-Fi networks. As such a technology could be extremely valuable, PHUN stock appears to be well-positioned for significant growth in the long-term.
Considering the company’s prior participation in politics as the foundation for the Trump 2020 mobile application portfolio, PHUN has a major opportunity to capitalize on the ongoing midterm elections and the upcoming 2024 presidential election. For this reason, PHUN integrated its Smart Advocacy Solution with Twitter to capitalize on politicians’ need for creative ways to ensure that their target audiences are well-informed. Meanwhile, PHUN expects to integrate additional platforms as more social platforms make third-party feature sets available. With more integrations on the way, PHUN stock could be one to hold onto for the long-term as its solutions could be extremely valuable.
Meanwhile, PHUN stock is gaining investors’ attention thanks to its connection with former president Trump. Considering the company’s role in Trump’s campaign in 2020, PHUN soared more than 37% on the rumors that Trump would run for the 2024 presidential elections. With growing speculations that Trump could make such an announcement on November 15th, PHUN stock could be poised to witness another run-up if these speculations are true. Based on this, it could be a smart investment to accumulate shares of PHUN ahead of this major catalyst.
PHUN Stock Financials
Q2 Earnings
Looking into PHUN’s Q2 financials, the company reported $61 million in assets – declining from $99.2 million at the beginning of the year. Meanwhile, PHUN reduced its liabilities to $25.5 million compared to $34 million at the beginning of 2022. In terms of revenues, PHUN reported significant growth YOY as it realized $5.4 million compared to $1.4 million over the same period last year. However, cost of revenues increased from $1.1 million to $3.9 million and operating costs increased to $1.8 million compared to $846 thousand a year ago. In this way, PHUN’s net loss widened to $17 million in comparison to $7.7 million last year.
As for its Q3 earnings, PHUN intends to release its financials on November 10 and will hold a conference call to discuss its results. With the company gaining momentum thanks to its connection to Trump, PHUN stock could soar if it posts solid financials.
*Updated November 15th, 2022
Q3 Earnings
According to its Q3 report, PHUN has $68.4 million in assets and $35.6 million in liabilities. Meanwhile, the company reported a YOY growth in revenues as the company realized $4.7 million compared to $2.1 million a year ago. However, operating costs increased from $5.1 million last year to $8.6 million. In this way, PHUN reported a net loss of $8 million despite reporting a net profit of $372 thousand last year. Despite the company missing on analyst estimates, PHUN stock has the potential to soar in the near term if Trump announces his presidential bid tonight.
Media Sentiment
@RadioSilentplay is watching PHUN stock closely in anticipation of Trump’s announcement.
@stockplaymaker1 is adding PHUN stock at its current dip.
Technical Analysis
PHUN stock price is currently at $1.38. The stock shows supports near 1.28 and 1 while showing resistances near 1.5 and 1.95, and 2.43. Considered to be one of the Trump stocks, PHUN has been gaining momentum in anticipation of Trump’s announcement tonight which could be regarding his presidential bid. While the stock has lost some of its momentum, PHUN could be dropping to fill the gap on the chart near $1.32.
However, the stock is currently testing its 50 MA support which appears to be holding. Based on this, bullish investors could find a good entry on PHUN stock at the current PPS in anticipation of Trump’s announcement. With this in mind, if Trump announces his presidential bid, accumulating shares at the current PPS could be looked at as a smart investment thanks to PHUN’s connection to Trump.
In light of PHUN’s recent surge, accumulation is witnessing a downtick which could be attributed to investors taking profits and the MACD recently turned bearish. The RSI cooled off significantly from 74 to 47 which could signal another run in the near term as the RSI is now regulated. PHUN has an OS of 98.3 million and a float of 94.3 million which could make the stock intriguing to many investors.
PHUN Stock Forecast
While PHUN is gaining attention for being one of the Trump stocks, PHUN’s efforts over the past year to improve its MaaS platform could make it one of the tech stocks to invest in. Meanwhile, PHUN’s operations in blockchain, crypto, and the HPC market all offer positive indications for the company’s future. As PHUN stock is having a pullback, the current PPS could be attractive for many investors as the stock could further soar on Trump’s expected 2024 presidential elections bid. Based on this, accumulating shares of PHUN could prove to be a profitable decision in the short term.
If you have questions about PHUN stock and where it could be heading next feel free to reach out to us in our free alerts room!
Disclaimer
Please visit and read our disclaimer here.
