The BrainChip Holdings Ltd (ASX: BRN) share price closed the session down 6.38% on Monday on no news from the company.
Shares in the artificial intelligence technology developer finished at 88 cents each today.
Despite posting a nearly 530% increase in revenue in its H1 FY22 results last week, investors haven’t been keen to nibble at the company’s current share price.
In fact, as seen on the chart below, BrainChip has traded sideways for a good portion of 2022.
What’s up with the BrainChip share price?
Revenue for the six months to 30 June 2022 came in at A$7 million, up 529% year on year.
However, further down the balance sheet, it wasn’t so rosy. Operating losses were down just 1% to A$12.35 million whereas the company still printed a loss per share of 66 cents.
As reported by colleague Matthew Farley at the time, “[a]nother item that grew considerably [in H1 FY22] was its share-based payment expenses, swelling 128% to AU$5.27 million”.
The company attributed the rise to equity issued to directors and employees.
The recent drop for BrainChip has occurred in lockstep with a pullback in the S&P/ASX All Technology Index (ASX: XTX), down nearly 3% in the past month.
Zooming out, however, BrainChip shares remain buoyant, up 29% year to date and 81% higher over the past 12 months.
Also, when looking at the chart above, the downside for BrainChip is hardly out of sync with what the share has been displaying over the past eight or nine months.
Technology shares have caught a bid in recent months with more stable yields on government bonds, yet remain volatile.
With talks of a global recession resurfacing, what this means for the BrainChip share price looking ahead remains to be seen.
The post The BrainChip share price has dumped 30% in a month. What’s happening? appeared first on The Motley Fool Australia.
Should you invest $1,000 in Brainchip Holdings Limited right now?
Before you consider Brainchip Holdings Limited, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Brainchip Holdings Limited wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
See The 5 Stocks
*Returns as of August 4 2022
(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}
setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()
More reading
- BrainChip share price up on 529% revenue surge
- Why did the BrainChip share price slump today?
- When is ASX tech share BrainChip expected to become profitable?
- Why is the BrainChip share price sinking today?
- Here are the top 10 ASX 200 shares today
Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
from The Motley Fool Australia https://ift.tt/fWJ9ISl
Leave a Reply