Phun stock price predictions for current date November 15th 2024

Phunware's stock price trend and predictions for November 15, 2024, can be analyzed as follows:

1. Current Trend and Forecast:
   • The current trend for Phunware's stock is bearish, with a duration of 18 days.
   • The continuation probability for the bearish trend is 91%, indicating a high likelihood of the trend continuing.
   • The unconditioned trend shows that there is a 70% probability of the price moving in the current direction for 18.8 days, and a 50% probability for 27 days.

2. Recent Performance and Market Sentiment:
   • Phunware's stock experienced a significant drop, retreating 11% in late morning trading after a downgrade to Neutral from Buy by H.C. Wainwright & Co..
   • The company's stock price fell 7.6% to $5.93 after reporting Q3 revenue below estimates and receiving a non-compliance notice from Nasdaq.
   • Despite the decline, Phunware's stock had risen by 87.7% this quarter and gained 56.6% so far this year.
3. Financial Performance:
   • Phunware reported a quarterly adjusted loss of 25 cents per share for the quarter ended September 30, 2024.
   • Revenue fell by 76.2% to $665.00 thousand from the previous year, missing analysts' expectations.
   • The company's stock had a mixed performance with some positive gains but significant volatility and a recent decline post-results.
4. Conclusion and Prediction:
   • Given the bearish trend, the recent downgrade, and the disappointing revenue results, the stock price is likely to face continued pressure.
   • However, the stock has shown resilience with some gains this year, and potential for growth could emerge from strategic initiatives and future management stability.
   • Without positive catalysts or a turnaround in management and operations, the current bearish trend suggests that Phunware's stock price may not increase significantly on November 15, 2024.

In summary, the likelihood of Phunware's stock price increasing on November 15, 2024, is low, considering the current bearish trend, recent negative events, and the company's challenging financial performance.