Why Canaan Stock Plummeted by 10% on Thursday
2025 has been a year full of very bullish trading days for certain cryptocurrencies. Alas, for crypto miner and mining equipment purveyor Canaan (NASDAQ: CAN), Thursday wasn't one of them. The coin the company produces fell below what's usually termed a "psychologically important level," and its stock followed suit. Canaan's share price headed sharply south to close the day 10% lower.
That coin is none other than the flag bearer for all cryptocurrencies, Bitcoin. On Thursday, bearish investors sold out of it, to the point where its price dipped below $100,000 for the first time in nearly four months.
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Source Fool.com
