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Phunware Shares Down After $4.98M Bitcoin Purchase -Breaking

by Mike Robinson

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© Reuters

By Sam Boughedda

Investing.com — Heading into the shut on Thursday, Phunware Inc (NASDAQ:) shares are down 15% at $3.31 after it introduced the acquisition of extra Bitcoins for roughly $4.975 million.

Phunware, which now holds round 630 stated it bought 100 Bitcoin at a median worth of roughly $49,750 every.

It means the common worth paid for the roughly 630 BTC now stands at round $36.8 million and a median buy worth of roughly $58,513 per Bitcoin.

Phunware shares skilled a monster rally in October, hitting over $24 per share after being linked with former President Trump’s potential social media firm SPAC merger. Nonetheless, since that top, its trajectory has been principally downwards, as we speak giving up nearly all of Wednesday’s 21% positive factors, which had been once more linked to the SPAC. 

Bitcoin has additionally declined Thursday, down roughly 6%, buying and selling across the $47,493 mark.

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