Express

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

Last Update:

Tags: ,,
Link: Canaan's Stock Price Plummeted By 13.04% As Its Q3 Net Loss Has More Than Tripled   [Copy]
  • The Making of a Political Darling: Is Chainlink’s Government Deal a Victory for Tech or... 4 days ago
  • Google Steps Into Blockchain: A New Front in the “Ledger Wars” 6 days ago
  • Bitcoin Weekly Analysis: Is a Bear Market on the Horizon? 8 days ago
  • AI Fraud Is Breaking the Internet’s Trust Economy. Can Compliance Tech Keep Up? 11 days ago
  • Can a $300M RWA Fund Save Avalanche's TVL? 12 days ago
  • You need to login to comment.