Remember DWAC and PHUN? Those were tickers that, back in the day, were quite frisky due to the new social media platform Truth Social. Well, now that it seems like the front-runner for the 2024 Presidential election is pretty much a lock, these tickers have sprung to life again, sort of like an obscure proxy for the candidate. Below is Digital World Acquisition DWAC, which blasted higher on huge volume after the Iowa caucus results.
Here’s the longer-term view, showing just how far DWAC plunged already. It did, to its credit, undo months of damage in just a few days.
Relatedly, Phunware PHUN (which I believe is the advertising arm) has blasted higher on relatively enormous volume for the same reasons.
As with its brother DWAC, PHUN has pretty much done nothing but fall for months, but it is popping up on the radar again due to its recent resurrection.
