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- BrainChip (BRN) has resumed trading this morning, with shares up 11.2 per cent in morning trade on Tuesday
- This indicates that BrainChip’s stock has increased by 66 per cent from closing at 68 cents on New Year’s Eve
- The company received a speeding ticket on Monday from the ASX following the change, with shares being paused as the company responded
- In its response, BrainChip advised it knew of no information that had not been announced to the market that might explain the rise in price
- Shares in BrainChip are up 5.34 per cent to $1.09 at 11:30 am AEDT
Shares in artificial intelligence technology business BrainChip (BRN) were up 11 per cent in early trading to a record high of $1.13 each.
This indicates that BrainChip’s stock has increased by 66 per cent from closing at $0.68 on New Year’s Eve. Shares have since fallen to $1.09.
The company received a speeding ticket on Monday from the ASX, following the “change in the price of BRN’s securities from a close of $0.885 on 6 January 2022 to a high of $1.035 today”.
Shares in BRN were paused as the company responded to the query, in which it advised it knew of no information that had not been announced to the market that might explain the rise in price.
It did, however, point to the announcement of a new non-executive director on January 4, and a press release on January 10 stating that an “Early Access Program” customer, Information Systems Laboratories, is using BrainChip’s technology in an artificial Intelligence-based radar research project for the Air Force Research Laboratory.
“Additionally, in recent days, there has been an increase in editorial tech media coverage regarding the AI market in various market segments where we operate,” the company said in response to the ASX query.
“This coverage has grown since the completion of our chip. This increase in coverage could be a factor regarding increasing market confidence in our technology.”
The company was also in the news recently regarding news it had partnered with Mercedes Benz to use its Akida technology in the EQXX Concept car.
Shares in BRN are up 5.34 per cent to $1.09 at 11:30 am AEDT.
