CAN - Canaan Explodes Higher on Blockbuster Earnings Report
It's every investor's favorite season once again: earnings season. For China-based chipmaker Canaan (NASDAQ: CAN) , today's price action certainly suggests there's a lot for investors to cheer.
The maker of Bitcoin mining machines reported blowout fourth-quarter numbers today, resulting in a surge of more than 14% as of 11:45 a.m. ET.
Today's move comes on the heels of a number of strong days for Canaan over the past week, as investors seemed to be pricing in excellent results. It appears Canaan delivered, and then some, considering today's impressive surge.
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Canaan Explodes Higher on Blockbuster Earnings Report