Name of opportunity: 👀
Canaan Inc
One of today’s top gaining stocks: 🏅
Canaan has soared by 19.81%, putting it firmly in our ‘Top Gainers Today’ neme where we collect the stocks that are showing rapid growth. It’s very much a penny stock, so even with today’s surge in popularity, it’s priced at an inexpensive $1.26.
How hot is this investment opportunity? 🔥🔥🔥
Download the Nemo app to see the latest stats on Canaan, and what analysts think it will be worth in the future. Right now, analysts predict the price of Canaan Inc might increase from $1.26 to $3.00 in the next 12 months. If you invested $1000, you might profit $1830.19.
One reason Canaan is being called a ‘Buy’ right now is that it was recently positively assessed by Wall Street investment firm Rosenblatt, who named the $3 target price for the stock to reach. Rosenblatt analysts believe that the company’s work developing more energy-efficient crypto mining machines might give it an advantage with customers who want to reduce their environmental impact. As the Bitcoin hashrate increases, mining becomes harder, meaning that demand might increase for more powerful machines.
Also, Canaan has just completed a third tranche of shares financing, making $50 million in additional gross proceeds. It issued 50,000 preferred shares at a price of US$1,000.00 per preferred share.
Lastly, Canaan also makes AI chips, for which demand is going up, as a higher number of businesses integrate AI technology into their work.
Crypto miners and AI chipmakers: 🤖
Canaan Inc provides supercomputing solutions through proprietary high-performance computing ASICs (Application Specific Integrated Circuit). The company provides a holistic AI (Artificial Intelligence) solution to customers, including AI chips. Canaan is headquartered in Beijing, China.
Which neme?: 🔍
‘Top Gainers Today’, ‘Crypto’, ‘Stocks On The Move’
Download Nemo to check out Canaan - top up your new account with $50, and we’ll give you a $25 bonus to invest in whatever you like!
