To The Moon

🌟🌟🌟Today Donald Trump scored a Decisive Win in New Hampshire Primary with 11 seats while Nikki Haley, his last standing competitor only managed 8 seats.  This sets the stage for a Biden Trump contest in the race for the US Presidential Election in November 5 2024.

Trump Concept Stocks also jumped.  $Digital World Acquisition Corp(DWAC)$ is up 137% in the last 5 days while $Phunware, Inc.(PHUN)$ is up a massive 166% simultaneously.

DWAC is the ultimate Donald Trump Stock!  DWAC is a Special Purpose Acquisition Company or a SPAC to take Trump Media & Technology Group public.  When the merger is complete, it is likely to trade on the Nasdaq Exchange under a ticker TMTG.  Trump Media's main product at the moment is Truth Social, a platform touted as an alternative to X, formerly known as Twitter.  It is now available on Apple and Android devices.

DWAC has just won a bid to get a further 1 year extension for it to complete its merger with Trump Media and Technology Group.  Deadline is September 8 2024.

DWAC does not having any earnings history  since it is only a SPAC.   However DWAC now sits above its 50 day Moving Average and it is also nearly 230% above the 200 day Moving Average.    DWAC is certainly a very exciting stock at the moment.   However DWAC remains down more than 70% from its all time high of USD 175 which was in October 2021.

PHUNWARE

Phunware soared over 1000% in October 2021 as it was associated with Donald Trump's 2020 presidential campaign.  Phunware builds online marketing campaigns for companies.  Phunware is a software as a service or Saas platform for mobile capabilities.  

Phunware's share price is rather volatile with a high of  USD 1.15 to a low of just 7 cents.  Phunware also recently announced that it will sell up to 5.6 million additional shares, bringing its shares to 90 million.  As a result, there is dilution of its stock holdings.

While it is very tempting to jump on the bandwagon to ride on the upward momentum of DWAC and Phunware, both stocks are high risk high rewards kind of stocks.  They are Meme stocks just like $Faraday Future Intelligent Electric Inc.(FFIE)$  and $AMC Entertainment(AMC)$  whose share prices are on a downward trend.

 Faraday share price is down 10.8% in the past 5 days and has plummeted 99.8% in 2023.  It has received a notification from Nasdaq  that it failed to comply with its listing rules of mandating a closing price of USD 1.  Faraday has until June 25 to rectify this non compliance by maintaining a stock price above the required level for at least 10 consecutive days.  

AMC is currently down 3.3% today and in 2023 it has dropped 92%.  Both AMC and Faraday Futures have undergone reverse stock split which shows the struggle they face just to survive. 

DWAC and Phunware are not for the faint hearted.  For now it would seem that Trump is in the lead but he is still a long way to getting into the White House.  If Trump fails in his quest for presidency, I believe DWAC and Phunware share price will plummet. 

To me it is much better to buy quality stocks that tick the core fundamentals of profitability, have rock solid balance sheet, wide moat and an excellent management team. 

In this instance I prefer JOMO or the joy of missing out rather than FOMO the fear of missing out. 

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