Home > Is Sphere 3D the New Meme Stock? Here’s Where to Buy It (487.5% Increase YTD)

Is Sphere 3D the New Meme Stock? Here’s Where to Buy It (487.5% Increase YTD)

Sphere 3D increased by 41.78% yesterday and is up 487.5% YTD. Is the stock the next short squeeze play?

Retail traders have recently focused on the so-called “short squeeze penny stocks”. We’ve noticed this phenomenon all year – when penny stocks trading for $2 or less simply skyrocket, reaching triple or even four digits share price growth. Heading into the end of the third quarter, Sphere 3D might be the focus of yet another short squeeze.

If you want to find out more about Sphere 3D, what all the hype is about, and where you can buy it right now, keep reading.

How & Where to Buy Sphere 3D Stock Online

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What Is Sphere 3D?

Sphere 3D is a company headquartered in Toronto, Ontario, listed on NASDAQ (ticker: ANY) involved in data management solutions, containerisation, and virtualisation. In early August, it acquired six-month rights to the bitcoin mining assets owned by Hertford Advisors.

Should I Buy Sphere 3D Today?

The short squeeze penny stocks phenomenon is nothing new – it’s apparent that retail traders love taking advantage of cheap, high-risk, and high-volatility stocks. When stocks like Sphere 3D pop, reaching more than 400% increase this year, it’s impossible not to notice.

Sphere 3D started the year just like most other penny stocks – trading under $2. Yet, yesterday, the stock had an increase of 41.78% during the trading session and is up 487.5% this year. If you are wondering if it is still possible to go any higher, it may be worthwhile to mention that AMC’s stock price, another meme stock, increased by 2,800% before it plummeted.

However, investors without a big risk appetite should be aware of the risks associated with short squeezes. Sphere 3D stock price has boomed as investors responded positively to Will Meade’s tweet, a former hedge fund manager. He wrote on the famous social media platform that he took a long position in ANY stock – not only as it he believes that it is a big short squeeze play, but it is also a bitcoin play. But is Sphere 3D really worth the hype?

Sphere 3D Price Prediction 2021

As a penny stock, analysts take little interest in Sphere 3D. In the next 14 days, the share price is estimated to reach a maximum of $12.98 or a low of $8.4. However, keep in mind that its volatility makes it extremely risky, so make sure you use risk management tools if you decide to trade or invest in this stock.

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