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Bitcoin Stock Canaan Up After Q1 Print, What's Going On?
Summary
Canaan reported Q1 2024 revenue decline of 36.5%,but beat analyst estimate. Earnings per ADS loss of $(0.16) also beat estimate. Canaan holds $54.7M in cash, and its Bitcoin holdings reach 1,057. Q2 2024 revenue expected to be $70M, and Q3 expected to be $70M. CAN stock has plunged 55% in last 12 months.
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Read Full ArticleArticle published on May 17, 2024 by benzinga