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Why Shares Of Bitcoin Miner Sphere 3D Are Popping Off Thursday

Sphere 3D Corp (NASDAQ:ANY) shares are trading higher by 17.71% to $0.38 during Thursday's session. Shares of several companies in the broader tech sector, including Sphere 3D, are trading higher amid overall market strength following December's CPI report, which showed signs of cooling inflation.

Sphere 3D shares are also trading higher Thursday as several crypto-related stocks gain amid a rise in Bitcoin and Ethereum prices.

What Happened With CPI Data Thursday?

The consumer price index rose 6.5% in December, down from 7.1% in November, according to data the Labor Department reported on Thursday. 

The December CPI reading was in line with average economist estimates of 6.5%.

Core inflation, which excludes volatile food and energy prices, was up 5.7% in December, in line with average economist estimates for a 5.7% gain…Read More

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.

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