CAN - Bitcoin-Linked Canaan Stock Is Moving Higher Monday: What's Going On? | Benzinga
Canaan Inc (NASDAQ:CAN) shares are trading higher Monday after company executives announced intentions to purchase at least $2 million of the company’s common stock.
What Happened: Canaan chairman and CEO Nangeng Zhang and CFO James Jin Cheng have informed the company that they intend to use personal funds to jointly purchase at least $2 million worth of the company’s Class A ordinary shares represented by American depositary shares (ADSs). Each ADS represents 15 of the company’s Class A ordinary shares.
“We believe that the Company is deeply undervalued, providing a rare investment opportunity for us to pursue. The Company is making good progress in streamlining the manufacturing of A14 series ...