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Why Sphere 3D's Stock Dropped 17.2% on Tuesday

·1 min read
Why Sphere 3D's Stock Dropped 17.2% on Tuesday

The stock of the data management company that is pivoting to cryptocurrency mining was down 13.5% as of 11:46 a.m. EST today. On Nov. 15, Sphere 3D released its earnings results for the three months ending in September of this year. While Sphere 3D's legacy business is data management solutions, the company is pivoting hard into cryptocurrency mining.