In my view, at this point in time BRN is viewed largely as a meme trading stock by the investment/trading community.
I believe it is likely traders/cult members are pouring in at the moment as BRN is well known for its pump and dump cycles. They all hope to get in and sell on the pump, and quickly get out before the likely dump occurs.
Gains (or losses) from trading can be completely divorced from the underlying fundamentals of the company. If you have made gains trading, this is no reflection on whether BRN will ultimately be a successful business or not.
Trading gains are much more akin to gambing. Sadly, more and more research is linking speculative trading to problem gambling. See for example the master's thesis below.
https://www.proquest.com/openview/032d7d821d0aa1dd22bb6e10987c1b28/1.pdf?pq-origsite=gscholar&cbl=18750&diss=y
"Results suggest speculative trading may constitute problem gambling and imply financial FOMO may be an important construct to investigate in relation to problem gambling".
In my view, at this point in time BRN is viewed largely as a...
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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 |