Brn - brainchip holdings

[moka]

The games and manipulation have started. Brainchip was shorted last week so there was an article in the AFR downramping it letting investors know that the stock they purchased earlier in the week at 80c or 90c was actually in a bubble. Shaking the tree to get rid of any loose fruit.

As someone said when traders who are savvy play down the share price it is a good indicator that the herd are on to something.
Someone commented that some of these shorters must have a serious CHIP on their shoulder.

BRN closed on Friday at 64.5c down 11c, 14.6% with $55m turnover, and it was in the top 10 on ASX for volume. But it finished up 15 cents on last Friday's close.

https://www.afr.com/markets/equity-m...0200910-p55u86
BrainChip's rally stirs the bubble-meter.
The emergence of Facebook stock-tipping favourite BrainChip Holdings as an ASX unicorn has convinced some market watchers that the speculation taking over the Australian market is now at world-class levels of hype without substance.
BrainChip shares advanced slightly on Thursday, for a return this week alone of 53.5 per cent. The shares last traded at 76¢, equivalent to $1.2 billion in market value.

BrainChip's rally caught the attention of Sujit Dey from Credit Suisse's hedge fund sales desk, who admitted he still doesn't understand what it does even after reading its filings.
"This situation definitely takes the cake when it comes to bubble indicators in this market," Mr Dey told clients in an email circulated on Thursday morning. "I thought I’d seen it all!"
It's almost impossible to short the stock because there aren't enough institutional investors on the register to provide their securities for lending. Commsec and Openmarket dominate the trading volume according to Mr Dey, which "gives a good indication of the type of buyers that are moving this stock".
One fund manager said they tried to secure stock to borrow but "there is none available, so that helps explain why no one is stepping in to sell it".