Is Canaan's sell-off overblown?

Despite bitcoin prices surging, shares of ASIC manufacturer, Canaan, continue to fall. Since its IPO back in November, Canaan's stock price has fallen over 50%, and on Tuesday, it achieved a new all-time low of $4.31 a share.

Headwinds caused by the coronavirus outbreak have impacted many Chinese businesses. Bitcoin mining manufacturers have been no different. Both Canaan and Bitmain extended their vacation periods an extra week to February 10, leading to a slight delay in production and delivery.