Canaan ADS Transferred to Nasdaq Capital Market, Requests Extension of Compliance Period

According to PRNewswire, Bitcoin mining company Canaan will transfer its ADS from the Nasdaq Global Market to the Nasdaq Capital Market, with the stock code CAN remaining unchanged. Canaan received a minimum price compliance notice from Nasdaq because its ADS closing price was below $1 for 30 consecutive trading days. On July 6, Canaan applied for an additional 180-day compliance grace period. If approved, it must keep its ADS closing price at or above $1 for at least 10 consecutive trading days within the period.