Why Phunware Inc. (PHUN) stock lost its momentum in the after-hours on Thursday?

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AGI Stock

Phunware Inc. (PHUN) shares declined 0.98% in after-hours on Thursday, January 06, 2021, and closed the daily trading at $3.04. However, in the regular trading session of Thursday, PHUN’s stock gained 19.92%. PHUN shares have risen 151.64% over the last 12 months, and they have moved up 12.04% in the past week. Over the past three months, the stock has gained 246.97%, while over the past six months, it has surged 145.60%.

Let’s have a brief look at its recent developments.

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PHUN new supplier relationship

On January 06, 2022, Phunware, Inc. (PHUN) announced two new strategic supplier relationships in support of a Consumer Electronics Show (CES) inspired series of optimized high-performance computers provided by its LYTE Technology business unit.

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PHUN Partnership with PrimusTech

On December 23, 2021, Phunware, Inc. (PHUN) partnered with PrimusTech to integrate and offer its Smart Solutions on mobile.

PrimusTech is a leading Master System Integrator that offers a comprehensive range of services and solutions to support the digital transformation that includes Integrated Building Management Systems (IBMS), Smart Facility Management Systems, and Internet of Things (IoT)/Data Analytics.

PHUN bought more Bitcoins

On December 09, 2021, Phunware, Inc. (PHUN) purchased an additional 100 bitcoin for approximately $4,975,000 in cash at an average price of approximately $49,750 per bitcoin, inclusive of fees and expenses.

Phunware now has approximately 630 bitcoins, which were acquired at an aggregate purchase price of approximately $36.8 million and an average purchase price of approximately $58,513 per bitcoin, inclusive of fees and expenses.

PHUN (MaaS) available in AWS Marketplace

On November 23, 2021, Phunware, Inc. (PHUN) announced the availability of its Multiscreen-as-a-Service (MaaS) platform in AWS Marketplace.

AWS Marketplace is a digital catalog with thousands of software listings from independent software vendors that make it easy to find, test, buy, and deploy software that runs on Amazon Web Services, Inc. (AWS).

Launching of PhunCoin

On November 19, 2021, Phunware, Inc. (PHUN) announced it will begin processing initial issuances of PhunCoin (PHCN), which will be available for trading exclusively on Securitize, the first blockchain-enabled transfer agent registered with the United States Securities and Exchange Commission (SEC).

One PhunCoin is currently valued at $0.008. Anyone who already invested in PhunCoin through previous exemptions will receive specific instructions on how to consent to their PhunCoin issuance, set up a Securitize account, complete requisite screening requirements, and receive their PhunCoin.

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Well, the recent new supplier relationship could be the reason behind its gains in the regular trading session but there was no reason for its loss in the after-hours on Thursday. Let’s see how it performs on Friday?


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