Why Bitcoin and Ethereum’s 3D Stock Sphere Moves During Tuesday’s After Hours Session

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Shares of Sphere 3D Corp ANY are trading down about 3.16% at $0.40 in Tuesday’s after-hours session.

What happened: On Tuesday, Sphere 3D received a notification from Nasdaq that the company would be granted an additional grace period of 180 days, or until July 24, 2023, to regain compliance with the Listing rule $1.00 minimum bid requirement.

Sphere 3D said the notification indicated the company had not regained compliance within the initial 180-day grace period provided by the listing rule.

See also: What’s going on with Fox Corp shares during Tuesday’s after-hours session?

Why it matters: If Sphere 3D does not regain compliance by July 24, 2023, or if the company fails to meet another Nasdaq requirement for continued listing, Nasdaq staff may advise that the company’s common shares would be subject to delisting.

Sphere 3D said the company intends to actively monitor the closing bid price for its common stock and will consider available options to resolve the issue and restore compliance with the listing rule.

According to data from Benzinga Pro, Sphere 3D Corp has a 52-week high of $3.41 and a 52-week low of $0.23.

Photo: Unsplash

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