The recent performance of NanoTech Entertainment, Inc. (OTCMKTS:NTEK) share price appears quite capable of giving shareholders the jitters. The company kept posting new 52-week lows last month and the decline continues in April. Yesterday share volume on NTEK was particularly massive, at 19.11 million shares traded. It is one of the heaviest daily volumes in the past six months. The stock price took another hit and recorded a new 52-week low, closing at $0.0117 per share.
The momentum
NanoTech stock price has been witnessing a very tough period on the charts in past six months. It has lost more than 80% of its value from October peak levels. The company is taking all the measures to keep investors delighted, posting regular press releases. However, all the attempts are going in vain with no significant upward price movement in the stock.
The deal
NanoTech announced a deal with Paramount Pictures about including box office hit “Interstellar” on its UltraFlix platform. It will now carry the film, streamable to all subscribers. When the company made the announcement, the share price surged almost 22%. However, it proved to be a short-term relief as the stock price continued with its downward movement.
The news
In this week, NanoTech Entertainment, Inc. (OTCMKTS:NTEK) released more news. It has now signed a new deal with Paramount, including the streaming of famous “G.I. Joe: Retaliation”. The action flick is the latest addition to the UltraFlix and indeed, a much needed one. Unlike the “Interstellar” news, the new Press Release provides no fixed date on which the film will be available for viewing. It just mentions that it will start “in April”. Also, the reaction was different this time. There was no instant sharp surge in price rises. Instead it aggravated its losses and declined another 7.5% on massive volume. In last trading session, it dropped 0.85% to close the trading session at $0.0117 with share volume of 19.11 million.
