Novus Robotics Inc (OTCMKTS:NRBT)’s Price Plummets
Even though Novus Robotics Inc (OTCMKTS:NRBT) are at a peak considering their stock’s price performance this year they are having a bad time in the last few sessions. This is probably due to the heavy dumping of stock that has been taking place for more than a week.
The stock of NRBT was rising for quite a while after it reached a low of $0.0219 on July 10. It managed to gather some momentum and climbed a mind-blowing 1187% in about 12 days. However, their momentum was crushed on July 23 and they have been sliding down the charts since.
The week started of good with the stock of NRBT adding another 28% to its price on big volumes. Considering they have a average volume of 480 thousand the 2.5 million traded then show that there is a heightened interest in their stock combined with dumping. Monday’s trade session was also the biggest in trade value for this year with $699 thousand.
Since then, however, they started to slide down the charts, at first slowly with only 5% down in Tuesday’s session. Unfortunately the dumping of stock didn’t stop and the price’s downward movement gathered more momentum, as they lost 37% from their value in yesterday’s session going from $0.245 to $0.1537 on a volume of 1.5 million shares. The dumping took place in the morning and the price plummeted in the first hour of trading. It continued to go in a seemingly straight line until the end of the day when they closed with a total trade value of $391 thousand for the day.
Their stock’s price isn’t fairing that well today either, as they are 31% down from yesterday in just one hour of trading. Today’s trade chart for now is similar to yesterday’s, with massive amounts of traded shares. This could be attributed to the fact that people who thought of a long-term investment in NRBT are selling their stock as fast as they can, before the others who are dumping it lower the price even further, crushing it even more.
What is more interesting, however, is the transition in business. Last year NRBT were known under the name and ticker symbol Ecoland International, Inc. (ECIT) and they were sellig dry-bar cave bat guano as a fertilizer mainly in Europe, the United Kingdom and South Africa. It is very interesting what expertise they got and how fast they got it to move from that sort of business to robotics.
There is no logical answer, but one thing is for sure: Their revenues are declining and they are not doing it slow. Let’s not forget that they lost 77% of their revenues copared to their 2012 financials and think for yourself if they are really worth it. Before you do so be sure to do your due diligence and weigh out all the risks for yourself.
Another interesting OTC company that is at a decline for now is NanoTech Entertainment Inc. (OTCMKTS:NTEK), who closed yesterday’s trade session with a loss of 14% for their value and are continuing to decline since today’s session start with 9% more having a current price of $0.053. The situation is not the same for Arch Therapeutics, Inc. (OTCBB:ARTH) who seem to be improving their price and have started today with a good 16% gain in price, currently being traded at $0.653