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Phunware Soars on Pact With Parscale-Founded Consultancy

Published 02/07/2022, 09:57 AM
Updated 02/07/2022, 09:59 AM
© Reuters.

By Dhirendra Tripathi

Investing.com – Phunware stock (NASDAQ:PHUN) surged 16% Monday after announcing what it called a ''strategic political partnership" with Campaign Nucleus, an AI-based digital platform set up by Donald Trump's former campaign manager Brad Parscale.

The news is the latest step in what many expect to be the creation of a social media machine to power another run for the presidency by Trump in 2024.

Phunware was behind Donald Trump’s 2020 re-election campaign and helped develop the mobile application portfolio for engaging voters for the former President. Its stock spiked sharply in late 2021 after Trump confirmed his intention to launch a new social media company, which is to be folded into the already-public SPAC Digital World Acquisition Corp (NASDAQ:DWAC).

Phunware said it expects to fold Campaign Nucleus into its Smart Advocacy Solution offering.

Beyond political and advocacy groups, the companies said they also plan to market their solutions for third-party platforms looking to personalize political content delivery and engagement.

Initial joint products will focus primarily on political activity in the U.S. New offerings and capabilities will be launched over time in international markets with similar needs, the companies said in a joint release.

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