$CAN Canaan Inc. engages in the research, design, and sale of integrated circuit (IC) final system products by integrating IC products for bitcoin mining and related components.
Basically, sales mining crypto machines
Revenue Q2 2021 USD 167M +507% from same period 2020 and 168% from previos quarter
Gross Profit Q2 2021 USD 66M +887% from same period 2020 and 119% from previos quarter
Net Income Q2 2021 USD 37,9M (non-GAAP 49,6M) HIGHEST QUARTERLY NET PROFIT SINCE COMPANY IPO
Equity Q2 2021 vs Q1 2021 +221%
CASH USD 189M, DEBT 171M
-May 5 annonuced the closing of a direct sale to Institutional Investors at USD 12,60 per share and warratns with excercise price of USD 16,38
-Secured a purchase order from Genesis Digital on Aug 31 for 20k mining machines with an option to purchase up to 180k addiotional (Genesis is one of the world's largest mining companies)
-Backlog order for 4k machines for $HVBT
Strong support wich was previously a resistance + inverse head and shoulders pattern
Revenue, gross profit and net income skyrocketing, Insititutional Investors bought with a 100% upside from here, backlog from the leaders of the industry and beautiful chart....
What more do you need?
Long with 7000 shares