Looks like shorts have closed from buying into the 25mil institutional cap raise I would say. Good to have them gone to be honest as less manipulation and allows the SP to move up more easily. Also a sign that they think it’s risky to keep holding a short position against BRN for what they have in development.
The SP moving lower below 20cents is just due to the cap raise on top of the a smaller market correction.
This SP being lower I would expect is temporary and looking forward to the SP to resume up once CR fully complete and the general sharemarket stabilises. Of course the company still needs to achieve some major commercial wins as well to sustain a rise in SP…let’s hope that news can flow through as well soon enough.
Looks like shorts have closed from buying into the 25mil...
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Last
17.5¢ |
Change
0.005(2.94%) |
Mkt cap ! $342.8M | |||
| Open | High | Low | Value | Volume |
| 17.5¢ | 18.0¢ | 17.0¢ | $737.6K | 4.203M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 69 | 1587304 | 17.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 17.5¢ | 213251 | 4 |
View Market Depth
| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| BRN (ASX) Chart |