Phunware Launches New Resource for Shareholders to Restrict Short Selling
AUSTIN, Texas, March 16, 2022 (GLOBE NEWSWIRE) -- Phunware, Inc. (NASDAQ: PHUN) has announced new measures to enhance shareholder value, including a simplified online form allowing shareholders to instruct brokerages not to lend out their Phunware securities (PHUN and PHUNW). This initiative aims to combat short selling practices that may negatively affect stock prices. CFO Matt Aune emphasized that retail investors can restrict the availability of their shares to short sellers, echoing recent events with companies like GameStop.
- Launch of a simple online form to help shareholders restrict short selling of PHUN securities.
- Proactive approach by management to enhance shareholder value.
- Dependence on retail investor action to limit short selling may not be reliable.
- Uncertainty in market response to the new initiative.
AUSTIN, Texas, March 16, 2022 (GLOBE NEWSWIRE) -- Phunware, Inc. (NASDAQ: PHUN) (the “Company”), a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, announced today that it will provide additional resources to help maximize shareholder value to include a simple online form that enables shareholders to direct their brokerages not to loan out Phunware securities such as PHUN and PHUNW.
Short selling or “shorting” is an investment strategy that involves betting against a stock. Short sellers typically borrow shares they don’t own from brokerage firms and sell them on the open market with the expectation they’ll be able to buy back the shares they owe at a lower price.
“Short selling recently made headlines in the wake of what happened with companies like GameStop and AMC when retail investors were able to successfully restrict the number of shares available in order to cause a short squeeze,” said Matt Aune, Chief Financial Officer of Phunware. “While many retail investors hope the price of their shares will go up, many don’t realize their brokerage may be loaning those same shares to short sellers who work in opposition to price appreciation or that they can often restrict this practice by not allowing brokerages to loan out their shares.”
Click here to fill out a brokerage letter requesting your Phunware securities not be loaned out.
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About Phunware, Inc.
Everything You Need to Succeed on Mobile — Transforming Digital Human Experience
Phunware, Inc. (NASDAQ: PHUN), is the pioneer of Multiscreen-as-a-Service (MaaS), an award-winning, fully integrated enterprise cloud platform for mobile that provides companies the products, solutions, data and services necessary to engage, manage and monetize their mobile application portfolios and audiences globally at scale. Phunware’s Software Development Kits (SDKs) include location-based services, mobile engagement, content management, messaging, advertising, loyalty (PhunCoin & PhunToken) and analytics, as well as a mobile application framework of pre-integrated iOS and Android software modules for building in-house or channel-based mobile application and vertical solutions. Phunware helps the world’s most respected brands create category-defining mobile experiences, with approximately one billion active devices touching its platform each month when operating at scale. For more information about how Phunware is transforming the way consumers and brands interact with mobile in the virtual and physical worlds, visit https://phunware.com, https://phunwallet.com, https://phuncoin.com, https://phuntoken.com, and follow @phunware, @phuncoin and @phuntoken on all social media platforms.
Phunware PR & Media Inquiries:
press@phunware.com
T: (512) 693-4199
Phunware Investor Relations:
Matt Glover and John Yi
Gateway Investor Relations
Email: PHUN@gatewayir.com
Phone: (949) 574-3860
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