Phunware Inc. PHUN experienced a notable increase in its stock price during pre-market trading, rising by 29.67%, according to Benzinga Pro. This uptick is linked to Donald Trump’s potential return to the White House.

What Happened: The company has historical connections with Trump, having developed the mobile application for his 2020 reelection campaign.

Speculation about Trump’s political comeback has positively influenced Phunware’s stock performance. Investors seem optimistic about the company’s future prospects should Trump regain the presidency.

See Also: Trump Media Stock Shoots Up Over 10% In After-Market Trading As Ex-President Scores Victories In Kentucky, Indiana And West Virginia

Phunware’s association with Trump has been a significant driver of its market activity. The company’s involvement in the 2020 campaign has kept it in the spotlight, especially amid discussions of Trump’s potential political future. As election-related news continues to unfold, Phunware’s stock remains a focal point for investors.

Why It Matters: On Nov. 3, Phunware announced the impending resignation of its Chief Financial Officer, Troy Reisner, who plans to leave between Nov. 15 and Nov. 30. The company clarified that Reisner’s departure is not due to any disagreements over business operations or financial practices, and a search for a new CFO is underway.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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