Brainchip closed at 36c on Friday 16th, up 7.5c= 26.3% on 46.7m
It started rising on 6 Feb from 16.5c to 20c up 21% on 14m.
Then closed 26c up 15% on 12 Feb with 27.7m
Then 13 Feb hit a high of 33c to close at 25.5c on 64m.

There was an announcement of the LDA Capital Call of 25m shares on 4 December when the price closed down 2c to 18.5c. The pricing period ended on Thursday. The Pricing Period for the Capital Call Notice will begin on 04 December 2024 and will end on the earlier of 15 February 2024 or when the shares have been fully subscribed by LDA Capital.

The SP was below 20c for the capital call period, often around 16.5c/17c. The price was pushed down with shorting. Shorts were 4.03%= 72.8m on 12 Feb. They were 1.47% on 4 December and jumped to 3.35% on Dec 6, rising to 4% on Jan 5.
Volumes during January and up to 5 Feb were low at 5m or less shares.

So volume has increased considerably from 6 Feb.

Brainchip would have raised about $4m during the capital call, but now the price is higher, the gain of say 10c per share goes to instos and not to Brainchip. That could have been another $2m in Brainchips coffers.

https://www.shortman.com.au/stock?q=BRN

https://stocknessmonster.com/announcements/brn.asx-2A1491937/

On 29 January when this top 20 shareholders notice was issued LDA no longer had 9m shares which were part of the capital call.
https://stocknessmonster.com/announcements/brn.asx-2A1501490/

I think now some of the instos that bought into the capital call at say 16.5c have pushed up the price up to sell for a quick profit.
The price action reminds me of the pump and dump in Jan 2022 when it went up to $2.34 on Mercedes news. But it is also different now as Brainchip is closer to having its IP/chips in products and getting revenue, and the SP could rise on expectations of future revenue and developments and not actual revenue etc.

And there are investors that are accumulating and that is also helping the price rise. Who knows whether the SP will drop back to 20s or stay in the 30s, or rise even further. There is a lot of news about Edge AI, neuromorphic computing and Brainchip’s partnerships. Anything AI is very much the hot stock.