The social media space has become a bit saturated in recent times due to the existence of only a few big players and there is a certain hunger the for emergence of alternatives.
Trading Data
On Tuesday, PHUN stock fell 0.30% at $3.37 with more 7.93 million shares, compared to its average volume of 29.39 million shares. The stock has moved within a range of $3.2650 – 3.5286 after opening trade at $3.39.
Key Analysis
The announcement from former President from Donald Trump had resulted in strong rallies in many connected stocks and one of those was Phunware Inc (NASDAQ:PHUN). The stock has been in middle of a remarkable rally for quite some time and has rebounded by as much as 600% from its lows. In this situation, it might be a good idea for investors to take closer look into the advertising technology company.
The company is involved in creating online marketing initiatives for firms. Phunware claims that it is a SaaS (software as a service) platform and not actually a mobile development outfit. The company is looking to develop a platform that can help companies in launching a mobile presence quickly.
It could work in the same way as Amazon does for those who need cloud support. The company is looking to emerge as the most reliable provider of marketing services that can help companies in creating a mobile identity quickly. Investors could consider adding the stock to their watch lists at this point.
Technical Data
PHUN stock is trading above the 200-Day and 50-Day Moving averages of $1.74 and $2.56 respectively. However, the stock is trading below the 20-Day moving average of $3.67. The stock is up 23% in the past month.
