Might be a bad timing for Chinese companies in particular to go public in the United States especially when there is a silent trade war going on with both countries. They are not even a public company in their own company yet and they still strive to go public in a foreign country where they are enemies with. I know that ones filed with their attractive IPO they'll get those US investors' money pouring in but the question is will the US SEC let them to do so? They might have a slim chance on this one but I won't get my hopes up especially when this news about an IPO started in February this year.
Good point, but perhaps Canaan wanted to be the first and is willing to take the risk to bring their IPO stateside so maybe, just maybe they could end up successful in the long run. The ball is now on the SEC, they have filed all the necessary documents all they can do it wait. Of course upon approval this can really put a lot of positive vibes in the market and competitions between Bitmain and Canaan will go on the next level. Speaking of Bitmain though,
(https://www.coindesk.com/bitmain-turmoil-co-founder-and-director-micree-zhan-ousted-from-management)
Not the first one though, I remember that Bitmain has filed an IPO way back last year on the Hong Kong Stock Exchange but their application expired in March 2018 (and I think this contributes to Jihan leaving Bitmain) and then filed on US soil this June 2019.
However, Canaan, obviously a competitor has change the landscape again, so it's going to be interesting as to who's going to win in this race, the stakes are high here, and I do hope that it will bring a positive effect on the market.
I remember that Bitmain made a lot of buzz and splash with its IPO months ago. This time around, it is the turn of Canaan to offer its shares to the public. One of the subtle benefits with this is the sentiment that Bitcoin mining must be still a very bright industry with some more potential to exploit and of course, big money to be made. We don't know, however, how the marketplace will be receiving the Canaan IPO. I also notice there are are big news relative to Bitcoin mining these past many days. And this is happening just as the Bitcoin community is awaiting for the coming rewards halving in 2020. May I ask people here: Given the chance to buy some Canaan shares, would you do it and why?
