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Canaan Mining Raises $90M on First Day of Trading

Published 11/22/2019, 08:43 AM
Updated 11/22/2019, 10:01 AM
 Canaan Mining Raises $90M on First Day of Trading

Canaan Mining completed the first day of trading on NASDAQ, raising $90 million in its stock debut. The expected IPO, done through a shell company, aimed for $400 million a few weeks back, only altering the documents at the last moment to predict $100 million.

https://twitter.com/MaggieMaRQ1/status/1197560792540798983

Canaan Creative listed its shares at $9 initial price, valuing the IPO at $90 million. Under the ticker CAN, trading took off to a peak at $11.23, with a slide soon afterward. For a few hours, CAN traded under the $9 initial price, and reached breakeven on Friday. CAN moved between a peak of $13 and a low of $8.21, and currently has a market capitalization above $1.4...

This article appeared first on Cryptovest

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