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CAN - Canaan: Crypto Craze Volatility Likely To Spell Trouble
Canaan Inc.
Canaan just saw a record second quarter with demand for mining equipment surging as the hype returned.
But with another 80% to 90% drop expected in the upcoming quarters, as well as continued crackdown in China, the risk is still not worth any potential reward.
As a result, I remain neutral to slightly bearish on the company's near to long term prospects.