Canaan ADRs Rise After Company Regains Nasdaq Compliance

Dow Jones
10/20

By Kelly Cloonan

 

American depositary receipts of Canaan climbed after the company regained compliance with the Nasdaq's minimum bid price.

The ADRs gained 32% to $2.11 on Monday and are up 3.3% this year.

The crypto-mining company said Monday the Nasdaq determined the closing bid price of its ADRs met the stock exchange's minimum bid price of $1 apiece or greater for 10 consecutive business days starting Oct. 1.

The Nasdaq now considers the matter closed, the Singapore-based company said.

The company initially received a written notice from the Nasdaq in May after the closing bid price of its ADRs fell below $1 apiece for 30 consecutive business days. At the time, it was granted a 180-day compliance period, or until Nov. 10, to regain compliance.

 

Write to Kelly Cloonan at kelly.cloonan@wsj.com

 

(END) Dow Jones Newswires

October 20, 2025 11:55 ET (15:55 GMT)

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