NanoTech Entertainment, Inc. (OTCMKTS:NTEK) stock prices had a bear run on the charts for quite some time now. The share price touched a high of $0.03 on Thursday’s trading session and then retreated to close at $0.0220. NTEK price plunged more than 13% in last trading session.
NanoTech stock prices closed on a strong note last week but failed to continue with upward momentum in this week. Even the fact that it has managed to run on a profit doesn’t appear to impress investors. As per the latest report for the quarter ended December 31, 2014, NanoTech reported cash of $362,000. It posted liabilities of $570,000. The sales in the quarter came at $2.3 million, and net gain stood at $831 thousand. The numbers were good but not strong enough to justify a market capitalization of more than $18 million. It is the prime reason investors are reluctant to stay invested in NTEK stock. As of now, the stock price seems too inflated and can even sink deeper in the coming period.
NanoTech stock price can find some support if the company comes up with a positive press release. As per the last press release, the company is launching a new movie. However, the news failed to provide NTEK stock with a green closing. NanoTech also issued a shareholder letter and held a quarterly conference call. Reviewing the two updates and other historical items, it appears that the company partnered and is also partnering with several major players in the industry.
The future ahead
NanoTech Entertainment, Inc. (OTCMKTS:NTEK) is making strong partnerships with players in the market. The company is a leader in 4K and has received several awards in last few years. It even won an Envisioneering Innovation & Design Award in January. NanoTech strength is its conversion work which it completes on own. Also, it is able to stream 4K content at a speed less than 8Mbps whereas most of other companies require 15Mbps or 20 Mbps overall.