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Sphere 3D Regains Nasdaq Compliance

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Sphere 3D Regains Nasdaq Compliance

3D Corp. (NASDAQ: ANY) investors have experienced a rollercoaster ride this month. Just in the past week, shares have been volatile, swinging between a low of $2.29 and high of $6.61; the company announced a new CEO; and news circulated regarding the potential for a Nasdaq delisting. 

What Happened

Sphere 3D has regained compliance with the Nasdaq minimum bid price listing requirements, the company said in a Wednesday press release.

"The company has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market. Nasdaq considers the matter closed," the company said. 

Why It’s Important

The Canadian software company “delivers containerization, virtualization, and data management solutions via hybrid cloud, cloud and on-premise implementations through its global reseller network and professional services organization.”

3D Corp. has developed application technology software, Glassware 2.0, that was deployed on Microsoft Corp. (NASDAQ: MSFT) Azure. The company 's other software creations include NEO, RDX, SnapCLOUD, SnapServer, SnapSync and V3.

What’s Next

3D Corp. shares were down more than 22 percent at $5.15 at the time of publication Wednesday. 

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