Canaan’s Stock Plunge: A $1 Delisting Drama Unfolds 🚨

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Canaan Inc. is currently waltzing on a financial tightrope, teetering on the edge of Nasdaq delisting after its shares dipped below the sacred $1 threshold for the second time in 12 months. If you thought Bitcoin mining was a rollercoaster, try watching your stock plummet 63% in a year-that’s a real heartburn inducer. 🐎📉

  • Canaan’s been handed a second “you’re doing it wrong” note from Nasdaq for trading below $1. Again. Because why not?
  • They’ve got until July 13, 2026, to magic up a 10-day streak above $1 or face the delisting music. 180 days to save their skin-classic.
  • Shares closed at $0.79 last Friday, which is basically the stock market equivalent of a participation trophy. 🏆

Last week, Canaan issued a statement that probably made investors groan louder than a dial-up modem. They confirmed receiving a formal “you’re failing” letter from Nasdaq about violating Listing Rule 5550(a)(2)-the rule that demands a $1.00 closing bid price for 30 straight business days. Because nothing says “stability” like a stock that can’t even hit a dollar. 💸

The company’s response? A breezy, “We’ll keep an eye on it and do our best!” as if they’re talking about fixing a leaky faucet, not saving their entire business. Until then, they’ll “continue to be listed and trade on the Nasdaq Global Market,” because nothing says “confidence” like dangling over a cliff. 🤡

Nasdaq’s giving them 180 days to reclaim their $1 throne, which they lost on Nov. 28. To achieve this, Canaan could theoretically perform a reverse stock split-basically shrinking their shares to make the price look bigger. Because obviously, math is their secret weapon. 🧮

If they fail by July 2026, Nasdaq might throw them another 180-day lifeline. But if they still can’t hit $1, the delisting gavel comes down. And let’s not forget: Nasdaq will decide if Canaan is “cure-worthy” or just a lost cause. Spoiler: they’re probably the latter. 🪦

As of Friday, shares were down 3.8% to $0.79. To hit $1, they need a 27% surge-easier said than done, especially when Bitcoin’s been acting like a teenager lately. 😬

In May, Canaan dodged a similar bullet by pulling off a 25% rally to a 9-month high of $2.05. But that was before Bitcoin’s latest halving, which cut block rewards and left miners scrambling like ants with no sugar cube. 🐜

And Canaan isn’t alone in this crypto chaos. Last month, Kindly MD-a Bitcoin treasury firm-got the same “you’re broke” slap from Nasdaq. It’s like the Wild West out there, but with more spreadsheets. 🏴‍☠️

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2026-01-19 11:25