Phunware Inc (NASDAQ:PHUN) shares are trading lower by 33.3% to $0.17 Friday morning after the company announced a 1-for-50 reverse stock split of its common stock effective February 26, aiming to increase the market price per share and meet Nasdaq listing requirements.

The split, approved by shareholders in December 2023, will combine every 50 shares into one share without changing the stock's value or shareholders' interests. Fractional shares will be rounded up, and the company will have approximately 8 million shares outstanding post-split.

How To Buy PHUN Stock

By now you're likely curious about how to participate in the market for Phunware – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy 'fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.

In the the case of Phunware, which is trading at $0.18 as of publishing time, $100 would buy you 555.56 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to 'go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

According to data from Benzinga Pro, PHUN has a 52-week high of $1.02 and a 52-week low of $0.07.