Canaan (LON:CAN) Reaches New 1-Year High – Here’s Why

Canaan Inc (LON:CAN) shares reached a new 52-week high on Tuesday . The stock traded as high as GBX 277.90 and last traded at GBX 277.30, with a volume of 390909 shares. The stock had previously closed at GBX 276.30.

Canaan Stock Up 0.3%

The stock has a market capitalization of £2.72 billion and a price-to-earnings ratio of -18.47. The business’s 50 day simple moving average is GBX 258.91 and its 200-day simple moving average is GBX 244.59.

About Canaan

Starting its life as a French subscription-TV channel 40 years ago, CANAL+ today is a global media and entertainment company with a brand recognised worldwide amongst the Top 50 Most Valuable French Brands, globally (source: Kantar Brandz, 2023). It generates revenues in 195 countries and operates directly in 52 countries across Europe, Africa, Asia, and the United States, with a total of approximately 9,000 employees worldwide. With a balance of exposure to mature and high-growth markets, CANAL+ is one of the largest media companies in Europe in terms of both revenues and subscribers, and the undisputed leader in French-speaking Sub-Saharan Africa.