RE:BNXAarh0070 wrote: Urbani was pumping the stock when it was 8$ a share and the private placement gift to insiders was 4$ .As I noted previously this was a huge premium for insiders .Another big block(relatively) was sold this morning (26500 shares),further depressing the price .There is an almost complete absence of buying right now and selling in big blocks (presumably people in the know).This is not selling by small retail investors .Most Crypto trading in North America is done on Coinbase ,they don't use Banxa.
The massive pumping on this bb of Banxa is designed to encourage small retail investors to buy and allow big boys to sell .Now that tap is at least partly turned off the price is sinking towards the private placement price .
It is very difficult to catch a falling sword and that is what the Banxa share price is doing right now .Like it or not the facts are quite simple .First Banxa has a significant and rising cash burn rate ,second there is way more selling (often in big blocks)than buying that is why the price is falling .These simple facts are easily verified .
I thought weeks ago that the burn rate was too high . . But no one wanted to talk about it .