Phunware (PHUN) Stock Plunges Over 8% In Pre-Market: Time To Think Of Investing In This Cheap Stock?

Phunware, a leading provider of cloud-based mobile solutions, today announced its financial results for the second quarter ended June 30, 2021. The stock has been extremely unstable for the last 5 days in the market. The stock jumped on August 9 from the price of $1.07 to $1.17. Then dropped back to the same price on August 10. As of the previous trading session, the stock rose to $1.09. The stock is plunging over 8% in pre-market lowering to $1.00.

Despite the ongoing pandemic, the company’s robust operational momentum continued during the second quarter. During this period, we accelerated our MaaS platform’s vision and launched several new products, and expanded our indirect channel. Phunware’s team has made significant progress in building the pipeline and driving new customer relationships amidst ongoing headwinds from the COVID-19 pandemic.

Phunware, Inc. is a leading provider of integrated software platforms that enable companies to develop and manage their mobile app portfolios. Its products and services include mobile software that enables companies to collect and analyze data related to app usage and engagement. Its content management platform also allows app admins to create and manage apps in a cloud-based portal

Richard McEntire

Finance and Entertainment ReporterRichard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.