Shares of the mining giant Canaan on the Nasdaq exchange have updated their historical low, closing below $2 on Monday, June 15th. This is evidenced by Yahoo Finance.
On this day, the stock fell to $1.98, losing 3.9% during the trading session. Thus, since November last year, Canaan quotes fell 78% from a maximum of $8.9.
According to the company’s report, the net loss reached $5.6 million in the first quarter. Then the head of Canaan explained the loss by the fact that the outbreak of COVID-19 disrupted logistics in China, depriving them of the ability to deliver miners to customers.
Co-founder of Bibox Bitcoin exchange Aries Wang believes that Canaan problems can be caused by earlier events.