Phunware (NASDAQ: PHUN) is a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide. The company recently announced 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, with short sellers typically borrowing shares they don’t own from brokerage firms and selling 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.”
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About Phunware Inc.
Phunware 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, visit the company’s website at www.Phunware.com.
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