Canaan Inc. Third-Quarter Earnings Preview [Seeking Alpha]
Canaan Inc. - American Depositary Shares (CAN)
Company Research
Source: Seeking Alpha
SummaryCanaan Inc. will announce its third-quarter earnings before market open on November 30, 2020.We expect the management to provide updates on the mining machines sales and more importantly, the monetization progress of its AI chips.Our investment thesis remains unchanged that Canaan Inc. is an undervalued call option on the bitcoin price. The convergence trade should continue to perform.Investment ThesisSinceour first writeup on Canaan Inc.CANBTC-USDCAN Stock Price since August 12, 2020Source: Bloomberg.Our investment thesis on CAN is driven by three factors:1) Stable and higher bitcoin price trend2) More targeted investor relations efforts for the US-based shareholders3) Solid financial results from mining machine business and initial monetization of AI chips businessThe bitcoin price definitely provided strong tailwind this year, up over 159% year to date while CAN stock price was still down 29% during the same period of time despite the recent rally. The valuation gap between
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CAN
News
- Canaan Inc. to Report First Quarter 2024 Financial Results on May 17, 2024 [Yahoo! Finance]Yahoo! Finance
- Canaan Inc. to Report First Quarter 2024 Financial Results on May 17, 2024PR Newswire
- Canaan Unveils the New Avalon A1566 Mining Machines at Bitcoin Asia [Yahoo! Finance]Yahoo! Finance
- Canaan Unveils the New Avalon A1566 Mining Machines at Bitcoin AsiaPR Newswire
- Canaan debuts Avalon A15 New Product SeriesPR Newswire
CAN
Earnings
- 2/27/24 - In-Line
CAN
Sec Filings
- 5/9/24 - Form 6-K
- 4/22/24 - Form 6-K
- 4/17/24 - Form F-3
- CAN's page on the SEC website