Overview
- Nasdaq notified Canaan on January 14 after its shares closed below $1 for 30 consecutive business days under Listing Rule 5550(a)(2).
- To regain compliance, the closing bid must be at or above $1 for at least 10 straight trading days by July 13, 2026.
- Canaan’s ADSs closed at $0.79 on Friday, down about 63% year over year, with trading to continue during the cure period.
- The company says it will monitor the price, consider a reverse split, and may seek an extension if it cannot meet the deadline.
- Demand for mining rigs has weakened after the Bitcoin halving as some customers shift capacity to AI, though an October sale of 50,000 Avalon A15 Pro units briefly lifted the stock.