Nasdaq Tells Canaan to Boost Share Price or Face Delisting
Cointelegraph
Nasdaq warned crypto miner Canaan to raise its share price above $1 within 180 days or face delisting.Summary
Crypto mining hardware manufacturer Canaan Inc. received a warning from Nasdaq because its closing bid price has been below $1 for 30 consecutive business days. Nasdaq has given Canaan 180 days, until July 13, to regain compliance by ensuring its closing bid price remains at or above $1 for at least 10 consecutive trading days. If compliance is not met, Nasdaq staff may grant an extension, which could involve Canaan agreeing to a reverse stock split. Failure to comply after any extension will result in delisting, potentially moving shares to over-the-counter markets. Canaan's shares have struggled, trading down 63% over the last year, partly as crypto mining firms pivot some operations toward AI computing power.
(Source：Cointelegraph)