Here's Why Crypto Mining Company Canaan Dropped Again Today, This Time by 12%

As of 2:15 p.m. ET, crypto mining equipment maker Canaan (NASDAQ: CAN) is once again on the decline, down 12% from yesterday's close. In the broader crypto mining-related sector, Canaan is among the largest decliners since yesterday's close, and this move now brings the company to a one-year decline.Notably, this move also pushes CAN stock toward penny stock territory once gain, with the company's stock price currently hovering right around the $1 level at the time of writing.Let's dive into what is driving this continued downward pressure for Canaan, and why this stock is seeing still-elevated volatility, even when compared to already-volatile cryptocurrencies right now.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool