Why Bitcoin-Related Stock Sphere 3D Is Getting Hammered Today

Sphere 3D Corp ANY shares are trading lower by 14.1% at $4.04 Tuesday afternoon after the company reported its second-quarter earnings results.

Sphere 3D reported quarterly losses of 19 cents per share and quarterly sales of $894,000.

Sphere 3D says revenue for the first six months of 2021 was $1.8 million, compared to $1.9 million for the first six months of 2020. Gross margin for the first six months of 2021 was 44.8%, compared to 47.6% for the first six months of 2020. 

Sphere 3D delivers virtualization technology and data management solutions. The company operates in one segment, which is providing data management and desktop and application virtualization solutions for small and medium businesses and distributed enterprises.

Sphere 3D has a 52-week high of $6.58 and a 52-week low of $1.23.