NanoTech Entertainment, Inc. (OTCMKTS:NTEK) share price has been declining down the charts from past few days. The share price has been posting very few trading sessions in the green and has declined a total of 56% since the start of the year. It is announcing new releases for 4K Ultra HD streaming offerings.
Recently, it disclosed that they have included Interstellar to its Streaming Network. However, the news didn’t cheer up investors for a long time. Prior to the news, the share price declined more than 11% to make a new 52-week low of $0.0166. It came at a massive volume of 7.82 million, resulting in $134,000in daily dollar volume. NTEK share price bounced back on Thursday and posted gains of 3.01% to close the day at $0.0171.
After making new 52-week lows and posting loss of under twenty cents a share late last week, NanoTech share price managed to move up to close in the green on Friday. The gains came due to a press release disclosing the long-expected name of the movie NTEK will be streaming on its platform.
About an hour after the market opened, the company issued a press release, stating that the Academy award-winning film that will be added to the UltraFlix is Christopher Nolan’s space story “Interstellar”. It won the Oscar in category of ‘Best Achievement in Visual Effects’. A licensing deal with Paramount will enable NanoTech to stream Oscar winning movie in 4K HD.
It is a delightful announcement to UltraFlix subscribers who can now view a movie that is good. It would act as a nice change from viewing 1987’s “Robocop”. The press release underlines NanoTech’s amazing technological capability of streaming lossless 4K HD content at mind blowing speed of “under 8” mps compared to minimum of 25 mps provided by its competitors.