Phunware (NASDAQ:PHUN) stock is on the move Thursday as investors prepare for the debate between former President Donald Trump and sitting President Joe Biden.
Phunware is tied to Trump as it has assisted with his presidential campaigns in the past. This has made PHUN a stock that if of interest to his followers. That means it often moves alongside news concerning the former President.
Considering that Trump is preparing to take part in his first in-person debate with President Biden tonight, it makes sense that PHUN stock would react. The debate is being hosted by CNN and is set for 9:00 p.m. Eastern Time.
How This Affects PHUN Stock Today
With this news comes heavy trading of PHUN stock as investors buy shares ahead of the presidential debate. This has more than 2.2 million units changing hands as of this writing. That’s well above the advertising company’s daily average trading volume of about 324,000 shares.
PHUN stock was up in trading earlier on Thursday. However, the shares have now slipped some compared to their price close.
Investors will also want to keep an eye on other stocks tied to Trump today. For example, shares of Trump Media & Technology (NASDAQ:DJT) are slipping 3.2% ahead of the debate with Biden.
On top of that, we have all of the other hottest stock market stories available on Thursday! Among that is what has shares of Walgreens (NASDAQ:WBA), Hims & Hers Health (NYSE:HIMS) and Rapid7 (NASDAQ:RPD) stock in the news today. You can catch up on all of these matters by checking out the links below!
More Thursday Stock Market News
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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.
