"Shorts own this"
Shorts are a tiny percentage of the total number of shares traded and are playing an insignificant role here.
In my view, the recent price run to over $2 was mainly FOMO driven. The FOMO was created, at least in part, as a result of gullible and vulnerable people falling for the wild speculation posted on BrainChip Facebook groups, reddit, HotCopper posts, telegram messages, Twitter etc etc that Akida is the best thing since sliced bread and nothing else can compete.
The incredible thing is BRN still has a market cap of $1.65 billion! This seems grossly overinflated to me. Rather than the recent price decline being driven by shorts, it seems a small (and only a small) amount of reality has set back.
I hope BRN ends up succeeding, but in my view, the risks are still substantial. The competitive landscape is brutal out there.
2022 BRN Discussion, page-7570
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Last
20.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $371.1M | |||
| Open | High | Low | Value | Volume |
| 19.5¢ | 20.5¢ | 19.5¢ | $656.1K | 3.281M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 16 | 364081 | 20.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.5¢ | 1348618 | 18 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| BRN (ASX) Chart |