Canaan Receives Nasdaq Delisting Warning

Nasdaq has issued a formal warning to Canaan Inc., citing non-compliance with its minimum bid price requirement. The notice follows a prolonged decline in the company’s share price.

Canaan disclosed that its stock closed below $1 for 30 consecutive trading days. Under Nasdaq rules, listed companies must maintain a closing bid price of at least $1 per share.

The exchange has granted Canaan a 180-day compliance period, ending on July 13. To remain listed, the company must see its shares close above $1 for at least 10 consecutive trading days.