Remark Holdings, Phunware soar; hype over Trump's social media venture persists

DNA X

25/10/2021 13:22

** Hype around Digital World Acquisition Corp's  DWAC.O 
merger with Trump Media & Technology Group boosts stocks of
Phunware Inc  PHUN.O , Remark Holdings  MARK.O , Benessere
Capital  BENE.O 
    ** Shares of Digital World Acquisition Corp  DWAC.O  gained
another 5% at $99.72 premarket, building on 845.8% rally last
week following news of merger which aims to launch Trump's
social media network called TRUTH Social  urn:newsml:reuters.com:*:nL4N2RI2TP
    ** Investors on lookout for other Trump-linked stocks lifted
U.S. software developer Phunware Inc  PHUN.O  as much as 1,400%
on Friday  urn:newsml:reuters.com:*:nL4N2RI3D4
    ** PHUN, hired by Trump's 2020 Presidential reelection
campaign to build a phone app, was up 23% premarket; shares
surged 748.5% last week 
    ** AI and data analytics co Remark Holdings  MARK.O , which
is speculated to have links to Trump on online message boards,
is up ~300% premarket and trading in high volumes
    ** Many users of Reddit and Discord uploaded screenshots of
Remark CEO posting picture of Trump with one of co's board
members Brett Ratner without any further context
    ** Reuters could not independently verify link between MARK
and the former President
    ** Shares of MARK moved sharply higher on Friday afternoon,
ending the session up 138% on no apparent news
    ** About 16% of MARK's free float were shorted, according to
analytics firm Ortex's estimates
    ** Blank-check firms Benessere Capital  BENE.O  and Yunhong
International  ZGYH.O , which are other SPACs run by DWAC CEO
Patrick Orlando, were up 55% and 7% premarket, respectively
    ** PHUN, MARK and BENE are among top most watched and active
stocks on investor-focused social media site stocktwits.com

 (Reporting by Bansari Mayur Kamdar and Medha Singh)
 ((BansariMayur.Kamdar@thomsonreuters.com;))