Canaan (CAN) announced that it has received a written compliance notification from the staff of the Listing Qualifications Department of the Nasdaq Stock Market dated October 15, notifying the company that it has regained compliance with the minimum bid price of $1.00 per American depositary share requirement set forth under the Nasdaq Listing Rule 5450(a)(1). On October 15, Nasdaq determined that for the last 10 consecutive business days, from October 1 to October 15, the closing bid price of the company’s ADSs has been at $1.00 per ADS or greater. Accordingly, the company has regained compliance with the Minimum Bid Price Requirement, and Nasdaq considers this matter now closed.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CAN:
- Canaan Launches Gas-to-Computing Pilot in Canada
- Canaan’s Strategic Ventures and Record Orders Bolster Buy Rating with $3.00 Target
- Canaan Inc. Achieves Record Hashrate and Secures Major U.S. Order
- Canaan provides September bitcoin production, mining operation updates
- Crypto Currents: Bitcoin Depot acquires National Bitcoin ATM assets