Sphere 3D Shares Spike on Cathedra Bitcoin Agreement
Sphere 3D Corp stock shot up over 100% on Monday, reacting to news of its all-stock merger deal with Cathedra Bitcoin. Traders looked at the tie-up as a possible reset for the Nasdaq-listed bitcoin miner. Shares jumped 111.6% to finish at $4.02. The stock started the day at $3.17 and reached as high as $4.83 before the close. Volume hit 118.7 million shares, well above the daily average from last week. In after-hours trading, the stock was recently quoted at $4.95, up 23.1%.