Post by
arh0070 on Jun 09, 2021 9:44am
BNXA
Fortunately the closing price yesterday held above 4$ .The total transaction volume today shows slowing growth but still impressive .Growth between March and April was 37.5% April and May was 30%.It will be interesting to see what happens in June .The cash balance appears to be stable at 25 million but without further detailed information it is impossible to determine if they are burning cash or not .For example if they sold Bitcoin they would increase thier cash balance or if some options were exercised that would also increase cash balances.
The company knows some of us are looking at thier reports in detail on thier website hence I suspect they have decided to not publish them ,this is just speculation of course .They want their narrative to be accepted by the market .
Bitcoin yesterday was at critical support which has held (fortunately)and its up a little today .Alt coins still extremely depressed and trading volume will be down significantly due to extreme fear in the Crypto space .
This may all seem somewhat esoteric but BNXA is dependent upon trading volume ,if it declines so will the total transaction volume.
It seems likely bnxa will have an up day today bouncing off these depressed levels.