In the past week, the Phunware Inc (NASDAQ:PHUN) stock has been one of the notable movers and the situation remained the same on Tuesday as the stock jumped after a key announcement from the company. Yesterday, the stock jumped by 5% and took the gains for the past week to as much as 15%.
The rally on Tuesday was triggered by the announcement from Phunware about the delivery of Digital Front Door on mobile devices to the Virginia Hospital Center Health System. In this regard, it should be noted that Phunware actually teamed up with the Bluetooth Low Energy based indoor Internet of Things company Kontakt.Io for this project.
The tie up with the Virginia Hospital Center Health System is a significant development for the company. Located in Arlington, Virginia, it is a humongous indoor medical space that spans an area of as much as 850,000 square feet.
It has 437 beds and is not for profit. The deal with the Virginia Hospital Center Health System marks a major move on the part of Phunware and it has naturally led to a certain degree of excitement. Investors could do well to keep an eye on the stock over the coming days.