Bundy failed to catch any of the three targets sent his way in Week 17 against the Redskins.
He was promoted from the practice squad for the game and will likely vie for a spot on it in 2018.
Bundy has been on New York's practice squad all season after failing to win a roster spot out of training camp. Though the Giants have suffered significant personnel losses at receiver in 2017, Bundy isn't in line to hold a major role in the team's passing attack Sunday against the Redskins.
Bundy was waived by the Giants on Saturday.
Bundy was initially brought onto the team to add depth to a banged up receiver corps. He caught seven passes for 103 yards this preseason, but the Giants picked Tavarres King (ankle) and Dwayne Harris (upper body) as their depth receivers instead. At 6-foot-4, 215 pounds, expect Bundy to be a prime candidate for the practice squad.
Bundy signed a contract with the Giants on Wednesday, Michael Eisen of the team's official site reports.
Bundy helps replenish depth at wide receiver after Andrew Turzilli (undisclosed) and Darius Powe (hamstring) were waived Wednesday.
Bundy was waived by the Cardinals on Friday, Darren Urban of the Cardinals' official site reports.
Bundy had five receptions for 73 yards across the Cardinals' two preseason games. The 23-year-old spent the final six games of 2016 on Arizona's active roster but did not play, and was a member of the practice squad prior to his promotion.
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