Nasdaq told Canaan it must raise its share price above $1 for at least 10 consecutive days by July to regain compliance or face delisting. Canaan shares were trading around $0.79 after a brief October spike tied to a 50,000-rig order. Largest institutional holder Streeterville Capital fully exited a roughly $439M position in December. Nasdaq may grant more time and companies sometimes use reverse stock splits to regain compliance.

Nasdaq issued a compliance notice requiring Canaan shares to exceed $1 for 10 consecutive days by July or be delisted; shares are ~ $0.79 and Streeterville Capital exited a ~$439M position, increasing delisting risk. The notice is time-sensitive and market-moving for the company's stock; Nasdaq may grant extensions and reverse splits are a known remedy.