CEO and CFO of Canaan acquire 1.065 million ADS at an average price of $0.35, signaling confidence in the company.
Canaan (CAN) shares rose over 2% in premarket trading after its CEO Nangeng Zhang and CFO Jin Cheng bought additional stock. The executives purchased a combined 1,065,000 American Depositary Shares at an average price of $0.35 per ADS.
The transaction follows recent market activity and reflects insider confidence in the company’s outlook. Prior to this, Canaan’s stock had experienced volatility amid broader sector trends.
Premarket trading indicated a positive reaction to the news, with shares gaining early momentum.