Canaan's Shares Decline 7% Despite Robust Quarterly Performance

Canaan's stock dropped to $0.56, raising concerns over Nasdaq delisting as it needs to hit $1 by July.

On Tuesday, shares of Canaan experienced a decline of 7%, bringing the stock price down to $0.56. This downturn comes despite the company's strongest quarterly performance in the past three years.

The current share price places Canaan further from the crucial $1 threshold it must reach by July to avoid the risk of being delisted from the Nasdaq exchange.