Nextech3D.ai (NTAR.C) is a diversified augmented reality, AI technology company that leverages proprietary artificial intelligence (AI) to create 3D experiences for the metaverse. Its main businesses are creating 3D WebAR photorealistic models for the Prime Ecommerce Marketplace as well as many other online retailers. Nextech is a generative AI-powered 3D model supplier for Amazon, Kohls, P&G and other major e-commerce retailers. The Company develops or acquires disruptive technologies and once commercialized, spins them out as stand-alone public Companies issuing a stock dividend to shareholders while retaining a significant ownership stake in the public spin-out.
In recent weeks, Nextech3D.ai has announced major news. First, the Company announced that their largest customer, retail behemoth Amazon, increased new 3D model orders to the amount of $2.2 million. Then, the Company announced record preliminary Q2 revenue of $1.4 million.
Today, the good news continues with Nextech3D.ai announced it has surpassed a major milestone having delivered more than 50,000 3D models to customers. This reflects an increased demand and surge in production in 2023.
Evan Gappelberg, CEO and Founder of Nextech3D.ai commented, “We are thrilled to have achieved this significant milestone of delivering over 50,000 3D models to our valued clients. The accelerating demand for our immersive 3D models is a testament to our commitment to Generative AI innovation and exceptional customer satisfaction. Nextech3D.AI remains committed to providing exceptional services to its growing and diverse clients including the e-commerce giant Amazon, while embracing advanced Generative AI technology to stay ahead in the ever-evolving e-commerce landscape. With a strong focus on AI powered innovation and customer satisfaction, the Company is poised to achieve its goal of becoming the dominant 3D modeling company.”
It’s estimated that ecommerce is a $5.5trillion dollar global industry and that Amazon alone has over 300 mill products. To date total 3D models converted is still <1% of the total leaving massive room for growth in the years to come. Nextech3D.AI is at the forefront of the massive and growing 3D modeling industry, utilizing cutting-edge Generative AI technology to create photo-realistic 4K 3D models that cater to the specific needs of major e-commerce giants including Amazon and others.
Nextech stock rejected a major resistance zone at $0.81 and then broke below a trendline triggering a downside move. The stock actually retested this trendline on July 14th 2023 which saw a huge influx of sellers. The stock then broke below the $0.50 zone and gapped down.
In my most recent technical article on the chart, I told readers to watch for buyers at the test of support at $0.36. Buyers seem to be holding the price above this zone preventing further breakdown. The stock is now in a small range just above support. Going forward, a break above $0.44, the near term resistance, will be a bullish indicator for the stock. However, there is a gap that Nextech has to deal with. Gaps tend to be resistance when price gaps down. For the bulls to take control, they would need to push the price higher for a close above $0.50. This would be called “closing the gap” which tends to be followed by very bullish momentum.
Positive fundamental news has come out which could be the catalyst for a reversal here at support.