Phunware Inc (NASDAQ:PHUN) Stock Attempts To Jump: Now What?
Medical technology company Phunware Inc (NASDAQ:PHUN) is back in the conversation among investors this month after the company achieved a major milestone earlier on this month. The stock was in focus yesterday as well and managed to clock gains of as much as 10%.
Back on July 20, the company announced that it completed the third MaaS (Multiscreen as a server) platform licensing win. It was a major development for the company which currently operates among the biggest freestanding pediatric health systems in the United States. Such a licensing win can help the company in further expanding its range of services in a constructive way and hence, the optimism among investors is understandable at this point.
In this regard, it is perhaps also necessary to point out that Phunware currently has a headquarter that operates out of the SouthWest of the United States as well. It indicates that the company is looking to expand its presence in a big way in the coming years. The co-founder and Chief Executive Officer of the company, Alan S. Knitowski, spoke about the latest licensing win as well. He stated that Phunware is pleased to provide the company’s tech enabled and mobile only capabilities for the purposes of healthcare.
Market Reaction:
On Wednesday, PHUN stock soared 9.71% at $1.13 with more than 3.32 million shares, compared to its average volume of 2.07 million shares. The stock has moved within a range of $1.0411 – 1.1600 after opening the trade at $1.07. Over the past 52-week, the stock has been trading within a range of $0.6020 – 3.3380.
