Phunware Inc. (NASDAQ:PHUN) Stock Moves Up Without News: Will it Continue?

Phunware Inc. (NASDAQ:PHUN) jumped 6% on no news. The company recently announced that it had engaged Grasso Global Inc.’s Steve Grasso to support Phunware’s expanded investor relations program efforts, including consulting services and institutional investor outreach.

Grasso said that the chance to work with Phunware is a compelling one in leading transformational market change as companies look to capitalize on mobile platforms to offer customized consumer engagement. He added that he is delighted to introduce Phunware to various institutional investors and strategize in the most cost-effective way of navigating financial markets.

The company also closed a third multiscreen-as-a-services platform certification for a patient-centered, online mobile app portfolio with a leading pediatric health system. Digital innovation and transformation are critical in the customer’s strategy to enhance the patients’ experience for children while optimizing resource utilization for improved financial performance and better outcomes. CEO Alan Knitowski said they are delighted to offer tech-enabled, digital capabilities for optimized healthcare. So with these developments, PHUN is worth watching.

Market Reaction:

On Monday, PHUN stock went up 6.50% at $1.15 with more than 6.03 million shares, compared to its average volume of 2.11 million shares. The stock has moved within a range of $1.1000 – 1.1900 after opening the trade at $1.11.