Nasdaq Warns Canaan as Shares Stay Below $1 Ahead of Delisting Deadline
Nasdaq has flagged Canaan for potential delisting after the miner’s stock traded below the exchange’s $1 minimum bid threshold for an extended period, putting the company close to a formal compliance deadline. The warning arrives even though Canaan secured a major hardware order and saw a short-lived share rally in October, developments that have so far failed to restore sustained investor confidence or a stable share price. If Canaan cannot regain compliance, delisting would reduce liquidity and complicate capital access for the company, with knock-on effects for creditors and shareholders. For the broader mining sector, the situation underscores how hardware sales and occasional rallies may not be enough to offset persistent market pressure; typical remedies would include a reverse split or a Nasdaq compliance plan, but outcomes remain uncertain as the deadline approaches.