Hot Stocks To Buy: PHUN 280% Premarket Run – Penny Stocks Today


The current announcement by TMTG and Digital World Acquisitions Corp concerning the launch of a Trump-backed social media platform -TRUTH Social – has created headlines worldwide. As DWAC inventory noticed a 350% improve on the twenty first, its ripple results have created a sympathy play for Phunware Inc. (NASDAQ:PHUN) inventory which has witnessed an over 280% improve in its premarket worth on October twenty second – making it one of many scorching shares to purchase now.

Catalysts

PHUN is an built-in software program firm that provides cellular software, location monitoring, blockchain, and promoting software program. PHUN’s most up-to-date catalyst was its acquisition of the privately-held Lyte Technology Inc. Lyte is a quickly rising system integrator with a loyal and rising buyer base. With this acquisition, PHUN can start coming into the high-performance private laptop market.

The HPC market is currently valued at $32 billion with a staggering CAGR of over 20% over the subsequent 5 years. If this holds true, the market will greater than double within the subsequent 5 years, providing an excellent market alternative to satisfy the sector’s quickly rising demand. As is, Lyte’s expertise and following will permit PHUN to deploy its decentralized information economic system powered by PhunCoin and PhunToken. Therefore, this acquisition is a part of the corporate’s plans to develop into the crypto market to grab upcoming blockchain initiatives which may land PHUN inventory amongst scorching shares to purchase now.

While the corporate hasn’t launched any information that may represent the pre-market surge, the 280% improve is probably going in tangent with DWAC’s run up due to PHUN’s hyperlink to former President Donald Trump. Partnering with American Made Media Consultants, PHUN developed the official Trump 2020 cellular software solidifying it as a part of the community of companies for the 2020 Trump-Pence reelection campaign.

Since the announcement of TRUTH social‘s launch, investors have begun speculating that PHUN is concerned with the platform’s growth. While no official bulletins have been made, the hypothesis and momentum following positive factors from DWAC seems robust sufficient to drive PHUN’s worth in a sympathy play – doubtlessly touchdown PHUN on many traders’ lists of scorching shares to purchase.

Over the final three months, PHUN has witnessed an over 40% increase attributable to their growth and Lyte acquisition. Despite at present’s tantalizing surge, PHUN was already anticipated to see a price change because of the firm’s persevering with development. However, the runup has seemingly overvalued the corporate and a future worth correction ought to be anticipated.

Media Sentiment

No extra must be stated @JohnRSpano1, but it surely looks as if we’re all due a little bit PHUN @BMoeKnows.

Technical Analysis

Should You Buy?

Aside from the DWAC’s run, PHUN inventory has already carried out effectively over the previous couple of months attributable to its enterprise growth – probably making it one of many scorching shares to purchase. PHUN’s operations in blockchain, crypto, and the HPC market all provide optimistic indications for the corporate’s future. But following DWAC’s information, PHUN inventory worth has soared to unprecedented ranges.

Although shopping for shares throughout overbuying may pose a serious danger, there could possibly be brief time period positive factors to be made as DWAC’s run overshot virtually all worth targets. Once media consideration dies down and the corporate is compelled to verify or deny its affiliation with TRUTH social, the inventory may crash – particularly contemplating mounting brief curiosity.

Profit takers may trigger a dip on the market open, so traders searching for a superb entry level might discover one within the morning dip. But there isn’t any telling the place the run will go from right here.

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