If as you say
@Tuliptrader, that BRN "are one of the very few companies asked to demonstrate at this Intel event in front of the leaders of these titans of the global tech industry", then yes, it could have significant implications for BRN.
Right at the moment I am waiting to see an announcement regarding a new significant holder (so someone or other who now holds over 5% of SOI) or an announcement regarding an already significant holder who has increased their holding, which could be a number of entities in the top 20 holders.
I haven't done the numbers exactly, but if you said that over the last 10 trading days that BRN has averaged 50 million shares traded each day (off the top of my head i think that is conservative) then we have have 500,000,000 shares traded minimum, which is well over 25% (and perhaps up to 30%) of BRN SOI. A big turnover in a short time, we haven't had this type of volume since early 2022, so of course there has been much speculation about who/what the buyer(s) is or are,
There is also the pump and dump perspective, but I don't think that is so on this occasion, there is something else afoot, I should add that I am strongly of the view that a takeover, hostile or otherwise, is an outcome that would be as bad as I could imagine, I have never spoken about it and I don't like even considering the idea, and after being here going on 9 years is way beyond unpalatable, although it is a possibility.
Under ASX constant disclosure rules we should be informed very soon if there is a change in "significant holdings", I am inclined to think someone has taken or increased a position (most likely insto), but I don't think that entity will have been buying above say 25c to 27c. The large scale buying by this insto entity has most likely stimulated a fair bit of FOMO retail buying, then we will have the algo trading bots who will have been trading the price up (70% of price action on global bourses is now catalyzed by bots), we will also have instos buying call options to take advantage of the sudden price increase, as well as your normal day trading retailers.
Then you also have the Mums and Dads, there are many retail investors who know about BRN now - we have been on the ASX 200, and a lot of those types will likely have been buying into the 30c and up range.
The buyer may have also been a larger tech industry buyer taking a position, I have no idea who that might be, however Nvidia have a lot of money to throw around at the moment and it is well known they have been buying into some smaller tech companies in the States, so that is another possibility.
Given the growth of BRNs eco-system (that we know of) and the many other interconnections with some very large players in the tech space within the BRN eco system, the fact that several companies have now said that they will have product with Akida inside there is now enough solid information for an insto or other entity to take a place here. Many instos and traders buy or sell on technicals, however there will certainly be instos here in Australia (and I now suspect in US and Europe, not to mention India Japan and Korea) who would now be aware of the BRN story.
It is further interesting that BRN will be holding a webinar next week, just a few days after this Intel event, perhaps the timing is more than a meagre coincidence, as Tuliptrader says this could be a significant exposure opportunity for BRN.
Then there is the chart, I put it up the other day, the trend channel goes back over 2 years, it envelopes over 75% of price action over that 2 year period, but it also encloses virtually 100% of price action for 2023. I only drew this trend channel recently (I don't do TA on BRN much lately), but as soon as I drew those descending lines on the chart I realized their significance from a technical perspective, because what is happening is BRN has broken through and is no longer ruled by that 2 year channel. It has also broken out in an impulsive fashion on very strong volume - even better is the fact that the breakout is very much in alignment with a palpable .............more below chart..............
View attachment 57324
growing/evolving fundamental story which looks like the catalyst for the launch platform. This is a simple chart, but for me it is a thing of great beauty and potential (the last 2 years have been a drag and this decline has been far more protracted than I had imagined), I haven't done any Elliott Wave analysis (EW also works better for companies that are ongoing revenue earners, pre revenue companies are overly volatile), but will post along those lines as this upward wave matures some more.
www.prnewswire.com
..
