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.
The Company recently announced financial and operating results for Q2 ended June 2023 which resulted in record sales of $1.4 million and strong forward guidance.
Today, Nextech3D.ai announced the hiring of Hareesh Achi as the new Head of Product Operations. Mr. Achi has worked with Microsoft and Meta for over a decade and he has a deep understanding of big technology, coupled with extensive experience in building efficient, scalable and profitable technology operations. Hareesh is now poised to play a vital role in enhancing Nextech3D.ai’s profitability through operational effectiveness.
His role will also include streamlining processes and driving operational efficiencies across the business by leveraging powerful AI technologies to optimize workflows and enhance overall performance and profitability.
Hareesh most recently led Meta’s Reality Labs product data operations, where he led the expansion of scaled operations for Meta’s Reality Labs product portfolio. Prior to that, Hareesh held a pivotal role at Microsoft, overseeing the multi-billion dollar Bing Ads operations.
“I am thrilled to join Nextech3D.ai at this pivotal point in its growing 3D/AI businesses and contribute to the rapid growth, scale and profits for the business,” said Hareesh. “It’s an exciting challenge to optimize operations across various products to foster the growth of AI and 3D, while also expanding the product’s scale. I am committed to leveraging my experience to enhance Nextech’s rapid growth for years to come.”
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.
A battle then took place at previous support at $0.36. The stock broke below this and printed new recent lows at $0.31. There was then a bounce which took us to $0.39 before seeing the sellers pile in again. Now, the price is back at retesting support at $0.31. For this support to hold, we would need to see signs of the bulls entering and defending. This will be evident by the type of candle we print. Look for a strong green candle, or a candle with a large wick.
If the stock holds here, there is a chance we could be on the road to trigger a reversal pattern known as the double bottom, or “W” pattern. If the stock bounces and then retests $0.39 and then breaks above it, we would have our reversal pattern trigger. If we break support, then we would be moving to test all time record lows around $0.245-$0.25.
