Disclaimer: this is not cross promoting but I am quite familiar...

Disclaimer: this is not cross promoting but I am quite familiar with the rise and fall of BRN.

It was the stonks of the month in ASX Bets group on Reddit. All those degenerate autists kept hyping up BRN to the point where their prophet, Melvin Butter, predicted that it's going to hit $ 1 by the end of Sept 2020 or he will take a permanent ban from the group. Lots of people starting to believe all the hype based on the rumour that NASA was going to give a contract to them. This penny stock started from 3 cents and hit its peak around 75 cents in September 2020 and by then, lots of people already YOLO'ed their life savings into BRN.



IMO - This is what is one of the triggers why the SP plummeted in Sept 2020:
Louis DiNardo, the Brainchip CEO, says the company is targeting commercialisation of its neural network processor by 2021."I don't think anybody, no one, expected we'd have the kind of [share price] appreciation that we've enjoyed over the last two or three weeks," its CEO Louis DiNardo said from San Francisco. "I think there's a lot of very happy shareholders out there."The last two or three weeks have just been phenomenal. We've gone from the mid 20s – when it hit 40 I said what's going on, when it hit 50 I started scratching my head, now we're sitting well over 80 and into the 90s."

The CEO basically just declared "gee guys, I don't know why the SP has risen by this much but I'll take it anyway". Suddenly a lot of people realised that they've been gambling, not investing.

Imagine if MGT's chairman, Peter Schubert, say something similar along the lines "I don't know why the SP's has gone up by this much lately but thanks anyway". IMO, it wouldn't have much adverse impact on MGT's SP because we have the assets in the ground to back up our valuation.

However, I am a bit worried about Credit Suisse being the dominant player in this game. From what we can observe, their trades make up around 15-20% of the total trade. It appears the volume is enough to manipulate the price as we can see from the movement in the last few weeks.

If there's a major correction of price in the future, I am not going to give this up because the fundamentals are so strong and we have SA Government backing up this project. Even if it drops back to 2 cents, I'm just going to hodl because I've got a pair of diamond hands

In all seriousness, it's mainly due to my acquisition cost is much lower than 2 cents and also I believe this is going to be my ticket to an early retirement. From what I can gather from the more experienced investors in this thread, all I have to do is nothing for the next 15 years and keep accumulating when I can.

GLTAH and here's a bit of comparison between the people who joined ASX Bets and other group on Reddit.