Canaan Receives Nasdaq Warning for Sub-$1 Share Price, Avoids Immediate Delisting

Canaan Inc., a Singapore-based cryptocurrency mining hardware maker, received a warning from Nasdaq over its sub-$1 share price. The company must raise its ADS closing bid to at least $1 for 10 consecutive trading sessions within 180 calendar days to avoid delisting. Canaan's stock has continued to trade below the threshold, dropping 3% to 0.80 dollars on Friday. The analysts' average price target for CAN remains in the multi-dollar zone, but this does not affect Nasdaq's minimum bid rule.