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CAN - Canaan Inc News Story

$2.37 -0.0  -0.6%

Last Trade - 7:05pm

Sector
Technology
Size
Small Cap
Market Cap £329.1m
Enterprise Value £301.8m
Revenue £158.8m
Position in Universe 3089th / 6395

BUZZ-Canaan Inc: Short-seller takes aim at co, shares fall

Thu 20th February, 2020 4:23pm
** Shares of Chinese bitcoin mining gear maker  CAN.O  fall
6% to $5.37 
    ** Short-seller Aurelius Value calls http://www.mavalue.org/research/canaan-fodder
 co "the latest U.S.-listed Chinese company to have deceived
investors about its business"
    ** Investigation reveals undisclosed related party deals,
irregularities involving customers and distributors, a business
model that we view as broken - Aurelius
    ** In a note titled 'Canaan Fodder', Aurelius says it sees
significant downside potential and believes stock is
uninvestible
    ** CAN shares debuted on Nasdaq in Nov. and currently trade
40% below the IPO price of $9/share

 (Reporting by Shariq Khan in Bengaluru)
 ((Shariq.Khan@thomsonreuters.com; Within U.S.+1 646 223 8780,
outside U.S. +91 80 6182 2681; Twitter: @s_qakhan ;))
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