A Newly Public Cloud Developer Surged 2,000% in Its First Week
- Small-cap surges after merger brings stock to public market
- Phunware shares end down 29% after volatile trading session
This article is for subscribers only.
Traders should have some fun with this small-cap stock whose quadruple-digit gain has managed to go under the radar.
Phunware Inc., a cloud software provider that manages the app development lifecycle, is off to a dramatic start in 2019, with shares having climbed more than 2,000 percent from last year’s low. The rally started after the company consummated its merger with Stellar Acquisition Inc. in late December, thrusting it into the public market.