I’m only posting here now because I still own a lot of BRN shares and I’m bored
It looks like JP Morgan has been manipulating the share price. They hold a lot of BRN shareholder’s stock and the big investment banks make a lot of money from manipulating stocks
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The chart above has a pretty strong pattern. I don’t know much about algorithms but the sell pattern looks like it’s system generated and BRN’s price hit the low point today of $0.19
The only time I recall it going lower this year was when Trump introduced his great big tariffs threat (or whatever the fuck he called them at the time) and the price dropped to $0.17
Following the recent announcements shareholders on the main thread have mentioned a capital raise but the last Quarterly Report and Half Yearly Reports showed there was still $13million in cash and going by previous Quarterly Reports there should still be around $9-$10million in cash so no need for any immediate capital raise.
I’d be expecting JP Morgan (or whoever is manipulating the stock down) to release something positive (now that they have been scooping up shares on the cheap) and the share price to go up again from $0.19 before either more manipulating or a good or bad announcement.
Anyone who’s followed the share price closely and had a spare $50k could have made good money buying and selling between $0.21 and $0.23 since the start of the year. That $0.26 share price recently must have been like a Christmas bonus to the big manipulators.
All just conjecture, because like I said, I’m bored