The emergence of Facebook stock-tipping favourite BrainChip Holdings as an ASX unicorn has convinced some market watchers that the speculation taking over the Australian market is now at world-class levels of hype without substance.
BrainChip shares advanced slightly on Thursday, for a return this week alone of 53.5 per cent. The shares last traded at 76¢, equivalent to $1.2 billion in market value.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
Vesna Poljak is the Companies editor. She was previously the Markets editor with a special interest in the investment industry, hedge funds and accounting. She is based in the Sydney newsroom. Connect with Vesna on Twitter. Email Vesna at vpoljak@afr.com
