NanoTech Entertainment, Inc. (OTCMKTS:NTEK) Still Climbing After Q3 Report
NanoTech Entertainment, Inc. (OTCMKTS:NTEK) is a volatile stock that is also highly unpredictable, despite the positive financial statements the company is filing.
The ticker started going up again, after their Q3 report was filed on October 16 and the volumes of traded stock increased. The financial statements of NTEK are optimistic, but that doesn’t mean that the price doesn’t slip once in a while and we reckon that this is taking a toll on the nerves of some of the long-term investors.
As we wrote in our previous article covering NTEK, this isn’t the first time we see decent financial data from the company. Their annual report covering the period ended June 30 was optimistic despite the fact that the company recorded a net loss for the twelve months it covered, because they closed their second calendar quarter of this year at a profit.
The general movement in price since then is in an upward direction, however, we regularly see periods of more than 3 sessions in which the ticker closes in the red. Despite the holdups their price managed to reach a 52 week high in yesterday’s session on a high volume of traded stock.
The gain in value recorded in the end of the session was estimated at 10.10% and NTEK closed with a price of $0.169 per share. We saw a total of 16.5 million shares that switched hands during the session, which helped generate a dollar volume of $2.6 million.
The action around NTEK, however, attracted some unwanted guests that can push the stock’s price down. Yesterday we received an email from Money Runners, who are trying to clean their hands from previous failed pump jobs. They toutded Southern ITS International, Inc. (OTCMKTS:SITS) back in September and things didn’t end well.
The last email we received from them, touting SITS was on September 19 when the stock peaked at $0.0075 per share. The ticker started sliding down subsequently and is 55% down by now, being traded at $0.0033.
All in all, NTEK is a company with decent financials, despite the fact that it is in the OTC Pink tier. However, we would advise you to do your due diligence and weigh out the risks, because the ticker is very unpredictable.
Medical Marijuana, Inc. (OTCMKTS:MJNA) livened up yesterday with a 13% gain and surprised us by recording the biggest percentile movement it made in almost 2 monehts of trading. The volumes of traded stock were massive and helped the ticker generate a trade value of $4 million.
