Canaan Inc. Faces Nasdaq Delisting Warning Over Low Shares

Canaan Inc. said Nasdaq warned it on Wednesday that the company's shares have closed below $1 for 30 consecutive business days, giving it 180 days until July 13 to regain compliance or face delisting. Nasdaq requires a minimum $1 closing bid for 10 consecutive trading days; Canaan may seek an extension or effect a reverse stock split to comply. Shares closed at $0.79 on Friday.