(Updates stock activity, adds DJT) ** Shares of software developer Phunware fall as much as 32.8% to $9.50 on Thurs after co said CEO retired after a year in the role
** Stock last down 26.5% at $10.40 and on course for biggest one-day pct drop since Mar 6, when it declined ~30%
** Austin, Texas-based firm early Thurs announced 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 was named CEO a month later ** PHUN shares, which ended Sept at $3.42, have soared this month, getting a boost as Trump Media's stock has staged a strong rally as betting odds favored Republican candidate Donald Trump in his bid to return to the White House
** Phunware, which now has roughly $120 mln market cap, was hired by Trump's 2020 presidential re-election campaign to build a phone app
** DJT shares recently up 0.6% at $36.13 on Thurs, after falling nearly 8% earlier
(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))
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