Sphere 3D Corp. (ANY) shares gained 10.96% in after-hours on Thursday, September 02, 2021, and closed the daily trading at $10.43. Even in the regular trading session of Thursday, ANY’s stock surged 41.78%. The stock volume remained 241.67 million shares, which was higher than the average daily volume of 18.36 million shares within the past 50 days. ANY shares have risen 244.32% over the last 12 months, and they have moved up 111.71% in the past week. Over the past three months, the stock has gained 483.85%, while over the past six months, it has soared 356.31%.
Let’s have a brief discussion about its recent developments.
ANY provide an update about Minority Equality
On August 26, 2021, Minority Equality Opportunities Acquisition Inc. (Minority Equality), a company that Sphere 3D (ANY) has an indirect interest in, announced the pricing of their initial public offering of 11,000,000 units at an offering price of $10.00 per unit, with each unit consisting of one share of Class A common stock and one redeemable warrant. Each warrant will entitle the holder thereof to purchase one share of Class A common stock at $11.50 per share. The Minority Equality units are listed on the Nasdaq Capital Market from August 26, 2021, and trading under the ticker symbol MEOAU.
ANY Stock agreement with Gryphon Digital Mining
On August 20, 2021, Gryphon Digital Mining and Sphere 3D Corp (ANY) entered into an agreement to purchase an additional 250,000 Certified Emission Reductions, with each company purchasing 125,000 credits. These credits will help support the two companies’ ESG commitments in light of the recently announced initiatives to substantially increase crypto mining capacity.
ANY Stock recent financial results announcement
On August 16, 2021, Sphere 3D Corp (ANY) reported financial results for its second quarter ended June 30, 2021.
Q2 2021 financial highlights
- ANY reported revenue of $0.9 million in both the second quarters of 2021 and 2020.
- The gross margin was 43.7% in Q2 2021 compared to 49.6% for the second quarter of 2020.
- Total operating expenses were $3.9 million in Q2 2021, compared to $2.4 million in Q2 2020.
- The company suffered a net loss of $3.0 million, or a net loss of $0.19 per share for Q2 2021, compared to a net loss available to common shareholders of $1.9 million, or a net loss of $0.41 per share, for the second quarter of 2020.
Conclusion
The recent pricing of public offerings from Minority Equality may be the reason behind its exceptional gains on Thursday. Let’s see how it performs on the last trading day of the week.
