BNXAWell the booster club came out of the woodwork .Last time they were this active the share price was around 6-8$ a share .
One would be well advised to read the news release Very carefully.
Most companies don't announce this type of stuff ,they just announce the actual deal or buyout offer.
Presumably again these preliminary enquiries and the hiring of an investement bank will be associated with the release of financial data to those enquiring about BNXA, something that retail shareholders have NOT received .
The cynic in me would think that the blackout period for selling stock by insiders has ended .
If things are that great at BNXA why isn't the financial data being released ???I imagine that Mr Carosa knows on a daily basis what the cash balance is ,what the cash burn rate is ,what the transactional volume is .When things were booming this stuff was released regularly ,not now.
There is no doubt that Mr Carosa is a great promoter.Whether he can make money for retail investors rather than himself is the question investors need to ask themselves.
The simple fact is that the Crypto bear market continues and the bear market for Crypto stocks continues.
I personally have been hoping that there would at least be a retracement in the Crypto market .But this has not happened .BTC and Ethe pretty much in a trading range after a huge drop .What will determine BNXA future and the future of this Crypto investment bank who has been hired by BNXA is whether the bear market is over (or not)We may be in a slight sucker rally ,hard to say .The Elliot wave theorist whom track has been wrong about a retracement so far and Alt Coin season .So it is certainly possible that there will be another wave down with BTC going below 10K which is where Elliot wave theory predicts will the the bottom in this cycle for BTC.
So this rapid rise up is an opportunity for some bnxa investors to bail out ,whether this is a sustained trend up or not remains to be determined .Generally these type events (which happen all the time in the gold mining space) are short lived (ie days) .Time will tell.