NanoTech Entertainment, Inc. (OTCMKTS:NTEK) Losing Altitude On High Volume

[[tagnumber 0]][[tagnumber 1]]Undoubtedly, NanoTech Entertainment, Inc. (OTCMKTS:NTEK) has been having a bad time since the beginning of the year, closing around 3/4 of the sessions in the red. Recently, we also see that, as the decline becomes steeper, the volumes increase significantly.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]It appears that investors couldn’t handle the pressure of the stock descending so fast and there are a lot of people abandoning ship. Still, once things quieted down in the beginning of this month we saw that [[tagnumber 6]]NTEK [[tagnumber 7]]began climbing the charts without any help from press releases.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]We can’t consider the news from April 28, concerning the acquisition of UpLink.to as a reason for the ascent and there were no other news in the first days of the month either, so the run remains a mystery.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]][[tagnumber 6]]NTEK [[tagnumber 7]]isn’t susceptible to news anyway. While the company is dishing out new PR’s very regularly they rarely manage to leave a mark on the performance of the stock. But the reason for that might be the fact that, most of the time, nothing big is really happening and [[tagnumber 6]]NTEK [[tagnumber 7]]are announcing new additions to their 4K Ultra HD network.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]After [[tagnumber 6]]NTEK [[tagnumber 7]]gained an impressive 70% in just three sessions last week, however, it was time for a correction. We saw the ticker gap up and open at $0.023 in Friday’s session, but the buying pressure quickly pushed it lower and it closed at $0.018, having lost 16.28% of its value. A total of 36.27 million shares changed their owners and generated $742 thousand in daily dollar volume, the biggest since the beginning of the year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]As we mentioned in our previous article, however, the report for the first quarter of this year which is due next might surprise investors with further dilution and [[tagnumber 6]]NTEK [[tagnumber 7]]can sink even further. In any case, be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]