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Canaan's Stock Price Plummeted By 13.04% As Its Q3 Net Loss Has More Than Tripled

Mary Liu

Summary: Canaan Inc. (NASDAQ: CAN), a famous Chinese crypto mining company today released its third-quarter 2020 financial report. The report shows that the net loss in Q3 was 86.4 million yuan (US$12.7 million), compared with 16.8 million yuan's net loss in the second quarter, the losses have more than tripled. In contrast, Canaan has a net income of 94.6 ...

Canaan Inc. (NASDAQ: CAN), a famous Chinese crypto mining company today released its third-quarter 2020 financial report. The report shows that the net loss in Q3 was 86.4 million yuan (US$12.7 million), compared with 16.8 million yuan's net loss in the second quarter, the losses have more than tripled. In contrast, Canaan has a net income of 94.6 million yuan in the same period of 2019. Affected by the poor performance revealed in the report, Canaan’s share price plunged to $5 with a decrease of 13.04%.

By Mary Liu

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Link: Canaan's Stock Price Plummeted By 13.04% As Its Q3 Net Loss Has More Than Tripled   [Copy]
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