Canaan Inc. Faces Nasdaq Delisting Risk as Shares Slip Below $1 Threshold
Canaan Inc. (CAN) shares have plummeted below the $1 Nasdaq minimum bid requirement, triggering a 180-day compliance review period. The stock traded NEAR $0.7934, reflecting sustained downward pressure and weak market momentum.
Nasdaq rules mandate Canaan must maintain a $1 closing price for 10 consecutive days by July 13, 2026 to avoid delisting. While trading continues uninterrupted, management may consider a reverse stock split if organic recovery fails. The company maintains it will actively monitor compliance requirements throughout the process.
The development highlights ongoing challenges for cryptocurrency mining stocks amid volatile market conditions. Canaan's predicament mirrors broader sector pressures, though Nasdaq may grant extensions if other listing standards are met.
