HomeTrending StocksThis Is Why The PHUN Stock Is Moving Up Today

This Is Why The PHUN Stock Is Moving Up Today

This morning, the last check shows Phunware Inc. (NASDAQ: PHUN) standing at $2.20 (up 27.90%) in early trading.

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The Phunware stock gained 6.17% during Monday’s trading session to close at $1.72. A volume of 2.58M shares was recorded for PHUN stock, which was lower than the daily average of 17.23 million shares over the past 50 days.


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PHUN has a market cap of $118.28 million, and it currently has 44.30 million shares outstanding. Early trades have been positive for the PHUN stock, due to authorization by the board of directors for its blockchain initiatives.

What does PHUN have planned?

Phunware is an award-winning Multiscreen-as-a-Service (MaaS) provider of cloud-based enterprise mobile applications. PHUN enables companies to engage, manage, and monetize their mobile application portfolios and audiences globally at scale using products, solutions, data, and services.

Software Development Kits (SDKs) offered by Phunware include location-based services, mobile engagement, content management, marketing, loyalty (PhunCoin & Phun) as well as analytics. PHUN SDK also offers pre-integrated iOS and Android software modules for building in-house or channel-based mobile applications.

The Phunware board of directors voted today to authorize bitcoin purchases, announced in a press release today.

  • PHUN is intending launching its blockchain-based MaaS Customer Data Platform and its Mobile Loyalty Ecosystem for commercial purposes, and the current authorization enables PHUN to move forward with that plan.
  • The iPhone and Android versions of PhunWallet will be available later this month, subject to Apple App Store and Google Play approval.
  • Not only will PhunWallet issue PhunCoin in recognition of the value of consumers’ data, but also PhunToken with the aim of rewarding consumers for the value of their engagement.

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PHUN’s ability to excel:

By combining its more-than-a-decade long expertise in providing mobile applications with blockchain technology, Phunware (PHUN) will drive adoption of cryptocurrencies among the mainstream. PHUN’s these efforts will simplify the process for businesses since it eliminates the need to create and maintain the system themselves.

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