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.
Today, Nextech3D announced it is moving to high scale production and in preparation it has established Nextech3D Solutions India Private Limited, which is anticipated to increase profitability and reduce labor costs starting in Q4 2023. This strategic transition is anticipated to reduce expenses and significantly enhance the Company’s profitability and performance as it rolls out its AI solution. The Company is gearing up for a record Q3 and Q4 and record 3D model growth in 2024, with an exclusive focus on high-scale production for its 3D modeling business with Amazon and other enterprise accounts.
Instead of focusing on small e-commerce clients requiring a limited number of 3D models, Nextech3D is prioritizing large enterprise clients who demand thousands of models and high-scale production. This focus shift is expected to increase the Company’s revenue streams and contribute significantly to its overall growth and financial stability.
This news comes after Nextech3D 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.
Achi will lead establishing Nextech3D Solutions India Private Limited which will enhance overall performance and profitability for Nextech3D.ai. The focus on high-scale production and cost savings by setting up operations in India will result in growing profit margins for the Company and improve operational efficiencies.
By optimizing production processes and taking advantage of cost effective resources, the move to India is expected to generate a significant amount of new cash flow for the Company. With these initiatives and others, the Company is positioning itself for enhanced profitability for years to come in a rapidly evolving market.
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. The last few daily candles do indeed indicate that buyers are indeed stepping in at this support as evident by the long wick candles. Bulls are defending and not allowing price to close below this support zone.
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.
