By Sam Boughedda
Investing.com — Phunware Inc (NASDAQ:PHUN) shares are down 5% Thursday, despite the company announcing two new strategic supplier relationships and a new optimized PC series.
The mobile cloud platform company said the relationships support a Consumer Electronics Show (CES)-inspired series of optimized high-performance computers designed for high-end gamers, traders, streamers and cryptocurrency miners and provided by its LYTE Technology unit.
The company provided no other details on the supplier relationships, instead focusing on the computers. The new PC's from LYTE include the Gaming Series, Trading Series, Streaming Series and Mining Series.
"With these new strategic supplier relationships, we took the guesswork out of selecting the right personal computer systems for power users' needs," said Caleb Borgstrom, vice president and general manager of LYTE by Phunware.
At the end of December, Roth Capital lowered its Phunware price target to $4 from $5, stating the "stay-at-home" premium many stocks had benefitted from during the pandemic is fading.