Can Anything Stop NanoTech Entertainment, Inc. (OTCMKTS:NTEK)
It seems that the last promotional campaign for NTEK is still going in the same direction which is nowhere but up even after the last email touting them was sent June 25. After the company’s stock experience 1 day in the red with only 2% down on June 26 it seems that it has picked up speed as it’s jumping over 15% each day of the last 3 trading sessions with a great 33% that they had on June 28 (the last trading day of last month).
Yesterday didn’t differ much either. NTEK‘s stock went a further 23.96% up on very high volumes. The jump from $0.0635 at market open to $0.0745 when it closed is a fact, even though their stock was traded heavily as a total of 24 million shares switched hands generating a trade value of $1.77 million. When you compare that volume to their average of 6.52 million you can see that it is quite a lot and dumping might be involved as this was their day that recorded the highest volume of traded stock since late February.
Today, however, there is a different tendency. Since the market opened higher than yesterday’s close at $0.080 it managed to reach a high of $0.083 in the very first trades, but the price started to go in a different direction. More specifically it headed South and is 7.38% down to $0.069 at the moment. It is simply unprofessional to tell where it will go from now until the last trade of the day is complete, but this might very well be the first session for a while in which NTEK‘s stock could close with a percentile loss of over 5%.
This will not be the first time for something like this to happen. Remember InVivo Therapeutics Holdings Corp (OTCBB:NVIV)? They had a similar strong run as their stock’s latest price peak was on June 10 when they had a high of $4.65 per share and closed the market at $4.512 with 850 thousand traded shares at a total trade value of $3.83 million.
As we said earlier the upward movement in NTEK‘s price can’t only be attributed to the pump which ended 1 week ago on June 25. Investors that own NTEK stock as well as the company’s PR team are aiding the upward movement that was generated by the pump with constant press releases and touting in penny stock threads. Before we finish it would be good to remind ourselves of their financials as per their latest quarterly report covering the period ended March 31, 2013.
- cash: $8 thousand
- total assets: $98 thousand
- total liabilities: $1.4 million
- revenue: $256 thousand
- net loss: $230 thousand
It seems that they are doing good business, however, the only obstacle for now remains to make it profitable, so be sure to do your due diligence and weigh out all the risks before you decide to invest in their stock.
On the other hand it seems that Tungsten Corp (OTCMKTS:TUNG) are doing fine after 3 trade sessions in the red as they are jumping up in yesterday’s and also today’s session and are currently traded at $0.43.