Why Sphere 3D Corp (NASDAQ:ANY) Is Rounding Up Bullish Energy

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Sphere 3D Corp (NASDAQ:ANY) shares slipped 23.08% on Tuesday to $0.200 but recovered 7.50% to $0.215 in after-hours trading. Share prices have been trading in a 52-week range of $0.18 to $2.00 so it’s still trading around support. The company has a market cap of $13.49 million at 51.88 million shares outstanding.

Sphere 3D Corp is a company that delivers data management, and desktop and application virtualization solutions via hybrid Cloud, Cloud and on-premise implementations through its global reseller network.  Along with its wholly-owned subsidiaries Overland Storage and Tandberg Data, the company has a strong portfolio of brands including Glassware 2.0, NEO, RDX, SnapCLOUD, SnapScale, SnapServer, SnapSync and V3.

In a press release this week, Sphere 3D Corp announced that it has successfully completed a Proof-of-Concept for its Glassware 2.0 application containerization technology in a highly secure enterprise with mission critical applications.

Glassware 2.0 is able to take complex multi-dependent legacy applications and move them to modernized infrastructure. Whether choosing a public, private or hybrid cloud, organization with dependency on legacy applications potentially face loss of income and productivity, and for some highly regulated sectors such as healthcare, government, utilities and financial services, potential fines from regulators,” the press release indicated.

This technology was was seamlessly deployed in a highly secure environment to deliver legacy client applications that connected to an Oracle database backend and had interdependency from a number of other legacy Microsoft technologies. During deployment, Glassware 2.0 also provided the addition of Microsoft Security Essentials through a simple download. This aims to address a mountain of technical debt within an organization’s IT infrastructure, which poses risk to the business that increases over time.

Glassware 2.0 allows organizations totackle their enterprise applications that need modernizing instead of being vulnerable to obsolescence that leads to common failures in sustainability, security, and reputation. It is currently available both as an appliance as well as through Microsoft Azure wherein it can be accessed as an App Containerization Virtual Appliance that scales to 100s of users per VM and can be deployed through a consumption model in Microsoft Azure Marketplace. It is also available as a multi-VM infrastructure within Azure, for greater scale and flexibility, through a Solution Delivery Engagement with Sphere 3D, Microsoft, or a certified partner.

Earlier this week, Sphere 3D Corp shared that it has received an unsolicited proposal for certain assets, separate from an earlier expression of interest submitted by a different third party. For now, the company will evaluate these and other potential transactions that could seek to increase shareholder value before providing further details and updates. Nonetheless, it views the second unsolicited proposal as a further indication of confidence in its business.

The daily time frame of Sphere 3D Corp shares still reflects a massive downtrend that would be unwise to oppose, unless any strong signs of a reversal materialize. Volume has significantly picked up in the latter part of this month, indicating a surge in investor confidence, likely spurred by the unsolicited proposals to buy the company’s assets or invest in its technology.

DISCLAIMER: There is a substantial risk of loss with any speculative asset, especially small cap stocks. The opinions expressed are those of the author, and do not constitute recommendations to buy or sell a stock. Do your own research before committing capital.