Crypto mining hardware maker Canaan Inc. faces delisting from Nasdaq if it doesn’t boost share price within 180 days. Nasdaq warned Canaan after shares stayed below $1 for 30 days. Canaan last closed above $1 on Nov. 28. The company could apply for an extension to regain compliance or face delisting. Canaan closed at $0.79 on Friday, down 3.8%. Source: Google Finance.
Canaan may get more time to increase share price to comply with Nasdaq rules. If not, Nasdaq could grant an extension, or Canaan might need to do a reverse stock split. Failure to boost share price could lead to delisting, making it harder to buy and sell shares. In October, Canaan surged 25% after a US-based company bought 50,000 of its latest-generation mining rigs.
Bitcoin treasury company Kindly MD also received a delisting notice from Nasdaq for shares trading below $1 for 30 days. Kindly MD has until June to boost shares to avoid delisting. In August, Nasdaq delisted Windtree Therapeutics, causing shares to fall 77% as investors rushed to exit before the delisting. Readers are encouraged to verify information independently.

Read more at Cointelegraph: Nasdaq Tells Canaan to Boost Share Price or Face Delisting