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Politics Phunware extends 2-day gain to 2,189% as Trump re-election campaign app developer rides Digital World hype

18:55  22 october  2021
18:55  22 october  2021 Source:   businessinsider.com

The Real 2024 Election Nightmare

  The Real 2024 Election Nightmare Trump could win, fair and square.Americans are ready now. If anything, they’re overprepared. Many members of the uneasy coalition of Democrats and former Republicans who oppose Trump are frantically focused on the danger of Trump and his GOP allies trying to steal the 2022 and especially 2024 elections. This is not without justification; many of Trump’s henchmen, meanwhile, are frantically focused on stealing it. But these watchdogs risk missing the graver danger: Trump could win this fair and square.

A stock trader claps at the end of trade at the New York Stock Exchange. EMMANUEL DUNAND/AFP via Getty Images © EMMANUEL DUNAND/AFP via Getty Images A stock trader claps at the end of trade at the New York Stock Exchange. EMMANUEL DUNAND/AFP via Getty Images
  • Phunware stock extended its two-day gain to as much as 2,189% on Friday amid the Digital World SPAC hype.
  • The software firm developed an app to help power the 2020 Trump/Pence re-election campaign.
  • Traders are speculating that Phunware might play a role in the development of Donald Trump's Truth Social.

Phunware, a small-cap software developer based in Austin, Texas, extended its two-day gain to as much as 2,189% on Friday as it rode the ongoing hype surrounding former President Trump's foray into the SPAC world.

Mike Pence's moment of truth

  Mike Pence's moment of truth The VP balanced ambition and loyalty behind the scenes. Then came Jan. 6.As the calendar flips from 2021 to 2022, phase II of the Pence post-election plan is likely to take shape in the form of a resurgent Great America Committee, the political action committee the former vice president unveiled soon after he and Trump were sworn into office in 2017. Through this overtly political vehicle, Pence planned to raise money and campaign for Republicans up and down the ballot — gubernatorial candidates, congressional candidates, even those running for office at the state and local levels. Party efforts to recapture a narrowly divided U.S.

Digital World Acquisition is a SPAC that announced late Wednesday plans to merge with former President Donald Trump's recently formed Trump Media and Technology Group. DWAC stock soared more than 300% on Thursday as investors piled into the hype of a new social media app from Trump, and was up more than 100% in Friday trades.

Phunware stock is rising in sympathy of that move, as investors point out that the software developer was tapped by the 2020 Trump/Pence re-election campaign to build its app.

"Some are saying $phun and $dwac are connected," Chief Strategist of T3TradingGroup Scott Redler said.


Video: Trump to launch his own social media platform (Reuters)

There is no confirmation that Phunware will work with Trump Media and Technology Group to help develop the Truth Social media app. There was no immediate response to a request for comment.

Fact-checking Kari Lake, serial promoter of election lies and early frontrunner in GOP primary for Arizona governor

  Fact-checking Kari Lake, serial promoter of election lies and early frontrunner in GOP primary for Arizona governor In September, Mike Lindell, the pillow businessman and promoter of wildly inaccurate conspiracy theories about the 2020 election, said Arizona gubernatorial candidate Kari Lake was the first and only candidate he had endorsed. © Brandon Bell/Getty Images North America/Getty Images Kari Lake speaks during the Rally To Protect Our Elections conference on July 24, 2021 in Phoenix, Arizona. "And that says a lot," Lindell said while introducing Lake for an appearance on his talk show. "It says a lot about Kari." It sure does.

Earlier this week, Phunware said it closed an $11 million acquisition of Lyte Technology, which markets high-performance computers for gaming, streaming, and cryptocurrency mining.

Phunware, which was worth just $79 million on Wednesday, is now valued at more than $1.3 billion amid Friday's surge. The stock was halted for volatility on Friday and eventually pared its gains to 625%.

When asked to comment on the stock price move, Phunware told Insider via e-mail, "There are no official updates at this time. When there are further updates to share, we will be sure to do so via the appropriate Reg FD channels."

Markets Insider © Markets Insider Markets Insider
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Georgia Republicans didn’t waste any time in using their new voter suppression law .
Republicans have begun a legal process that could allow them to disenfranchise much of Atlanta.In a post-Trump GOP, it might seem unremarkable that elected officials are spouting off about some lie or half-truth broadcast by conservative media. But these letters set in motion a chain of events that could end in mass disenfranchisement of voters in the Democratic stronghold of Atlanta for the 2022 statewide and midterm elections.

usr: 1
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