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Why Bitcoin-Related Stock Sphere 3D Is Falling

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Why Bitcoin-Related Stock Sphere 3D Is Falling

Sphere 3D Corp (NASDAQ: ANY) shares are trading lower in sympathy with the overall market as investors weigh continued concerns over COVID-19, the Feds two-day meeting and a sell off in Chinese equities.

The company has cryptocurrency exposure and could also be trading lower in sympathy with the price of Bitcoin and Ethereum. 

Sphere 3D is otherwise trading higher by 40.9% over the past month amid increased ongoing retail investor interest in the company.

Sphere 3D delivers virtualization technology and data management solutions. It 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 is trading lower by 9.5% at $5.66. Sphere 3D has a 52-week high of $11.98 and a 52-week low of $1.23.

 

 

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