Canaan: I Still Can't Justify A Buy [Seeking Alpha]
Canaan Inc. - American Depositary Shares (CAN)
Company Research
Source: Seeking Alpha
The company produced a surprise revenue beat in Q4-23 and is guiding for $103 million in revenue in the first half of 2024. Cash burn is high and Canaan appears reliant on its ATM to fund operations. Canaan is still sitting on old inventory and BTC gains being pulled forward may negatively impact demand for rigs post-halving. Bitcoin ( BTC-USD ) and nearly every Bitcoin-related stock have been on a ride to the moon over the last four of five months. Notably missing from this rocket ride is Canaan Inc. ( NASDAQ: CAN ). I covered CAN for Seeking Alpha back in October shortly before the US stock market started a nearly 5-month long rally that has had virtually no meaningful pullback whatsoever. Yet, even with both Bitcoin and stocks rising, CAN has actually gone down since my October article. In this update, we'll look at the company's performance since October, analyze the possible impact of the upcoming Bitcoin block reward halving on CAN, and assess whether it might finally b
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High impacting Canaan Inc. - American Depositary Shares news events
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CAN
News
- INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Canaan Inc. and Encourages Investors with Losses to Contact the FirmAccesswire
- Canaan Announces Proposed Share Purchase by Management [Yahoo! Finance]Yahoo! Finance
- Canaan Announces Proposed Share Purchase by ManagementPR Newswire
- Canaan Makes Statement Regarding Shelf Registration Submission [Yahoo! Finance]Yahoo! Finance
- Canaan Makes Statement Regarding Shelf Registration SubmissionPR Newswire
CAN
Earnings
- 2/27/24 - In-Line
CAN
Sec Filings
- 4/22/24 - Form 6-K
- 4/17/24 - Form F-3
- 4/17/24 - Form 20-F
- CAN's page on the SEC website