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Cango shares plunge over 20% after $82M Q2 loss

Cango Inc. stock fell over 20% after reporting an $81.6M net loss in Q2 2026, driven by mining machine impairments as the firm pivots toward AI

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Cango Inc. stock fell over 20% after reporting an $81.6M net loss in Q2 2026, driven by mining machine impairments as the firm pivots toward AI

Cango scaled back its mining fleet in the second quarter as revenue fell and the company focused on efficiency.