Phunware drops after announcing CEO retirement

Phunware

24/10/2024 14:27

** Shares of software developer Phunware  PHUN.O  fall as much
as 13.6% premarket to $12.22 after co says CEO retired after a
year in the role
** Austin, Texas-based firm says Michael Snavely retired and
resigned from co, and appointed former board chair Stephen Chen
as interim CEO, effective Oct 22
    ** Snavely joined Phunware in Sept 2023 as chief revenue
officer, and a month later was named CEO
** Through Weds, PHUN shares have soared >300% this month,
getting a boost as Trump Media's  DJT.O  stock has rallied
recently as betting odds favored Republican candidate Donald
Trump in his bid to return to the White House
    ** Phunware was hired by Trump's 2020 presidential
re-election campaign to build a phone app

(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))