BrainChip share price rebounds to gain 5%

The artificial intelligence company was queried by the ASX last week about the big moves in its share price.

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The BrainChip Holdings Ltd (ASX: BRN) share price rebounded from an early morning loss of 1.1% to be up more than 5.4% in early afternoon trading on Wednesday.

At the time of writing, shares in the artificial intelligence company are going for $1.075 after reaching as high as $1.09 earlier in the session.

A wild ride

It’s been a bit of a wild ride for BrainChip shareholders over the past week.

On Friday, the share price soared 11.2% higher from Thursday’s close and gained 19.4% from its opening price.

With the All Ordinaries Index (ASX: XAO) falling sharply on Friday (closing the day down 2.3%), that price action was enough for the ASX to request information from the company.

BrainChip responded it was unaware of any factors not released to market that could be influencing its share price on the day.

BrainChip shares closed up 3.4% on the day.

On Monday, investors were treated to a 15.1% lift in shares, only to see the company’s shares tank 15.2% yesterday.

Today, without any price-sensitive news hitting the market, the company is again charging higher.

BrainChip share price snapshot

The BrainChip share price hit an all-time high of $2.13 on 19 January. Though it’s down significantly from there, BrainChip shares remain up 57% so far in 2022.

That compares to an 8.2% loss posted by the All Ords.

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.

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