The crypto mining sector may be a bit opaque for many but it is a sector that has attracted significant attention from investors in recent times. There are plenty of listed crypto mining companies and one of the stocks from the sector which managed to record significant gains in recent days is Sphere 3D Corp (NASDAQ:ANY).
Trading Data
On Friday, ANY stock soared 31.17% to $3.03 with 86.06 million shares, compared to its average volume of 6.66 million shares. The stock moved within a range of $2.5000 – 3.4100 after opening trade at $2.62.
Major Trigger
The stock was among the more notable gainers on Friday and ended up with gains of as much as 31% as a consequence. That took the gains made by the Sphere 3D stock over the past week to as much as 56%.
In light of such enormous gains, it may be a good time for investors to start looking into the stock a bit more closely. The stock has come into focus last Friday after it announced that it had managed to bag a deal that is going to help in further expanding its capacities as a Bitcoin miner.
The agreement in question was with regards to the acquisition of as many as 60,000 units of the advanced NuMiner Bitcoin miners. It was a major announcement and it was perhaps not a surprise that it led to the strong rally in the stock.
Technical Data
ANY stock is trading below the 50-Day and 200-Day Moving averages of $3.22 and $4.01 respectively. However, the stock is trading above the 200-Day moving average of $2.49.
