After declining to 52-week lows and dropping under twenty cents a share last week, NanoTech Entertainment, Inc. (OTCMKTS:NTEK) managed to erase some losses in last two trading sessions. It surged more than 22% on Friday and posted gains of close to 2% in last trading session. The catalyst for the upward trend was a press release disclosing the much awaited name of the award-winning film the company will be streaming.
Almost an hour after the opening bell on Friday, NanoTech published a press release, disclosing that the award-winning film that will be included to the UltraFlix vast catalog is Christopher Nolan’s space story “Interstellar”. The film won the prestigious Oscar award for Best Achievement in Visual Effects. As per the report, a licensing deal with Paramount will allow the company to stream “Interstellar” movie in 4K HD effective March 31.
The news came as a delight to UltraFlix subscribers who can now view a film that is both good and new , a nice change from watching “Robocop”, “Rocky” movie and other Asian action movies that seem to constitute a major part of the UltraFlix catalog, if its ‘Featured’ segment provides any indication of the content on offer.
The press release of NanoTech also makes sure to once again highlight the company’s amazing technological feature of streaming lossless 4K HD content at speed of “under 8” mps. It is some serious technological skills, considering other peers suggest a minimum of 25 megabits per second to view Ultra HD which has a lower resolution than 4K HD. However, the news of “Interstellar” movie manages to carry the NTEK ticker any further up on the technical chart remains to be seen. Considering how the press release helped the stock to retreat from a 52-week low, a further jump in prices is not unlikely.