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, Nextech announced it has signed an enterprise 3D modeling contract with Kabbani Furniture, a major furniture retailer in Egypt. With 4 main branches, 18 Sub-branches, 7 factories, and over 2000 employees in 7 different governorates, Kabbani Furniture is considered the number 1 furniture seller and manufacturer in Egypt.
Kabbani Furniture’s initial purchase order is for 500 3D models, which represents a small fraction of total SKU’s. This deal also represents a significant growth opportunity, with the potential to grow with Kabbani’s large network of retailers.
In Chris Parry’s latest article on Nextech3d.ai, he talks about the current price being officially cheap. Here are reasons why the stock is getting hit:
- Investors are looking for ramped up sales numbers and, when you’re in the B2B business and dealing with Gigantor sized companies like Amazon, it’s worth noting that sales completions can drag on beyond expectations
- There’s some belief, justified in hindsight, that scything elements of the business off into spin-outs wasn’t a good move over the last year, with the markets weighed down as they are
- This, for mine, is the big one – some employer reviews on Glassdoor popped up, largely from India, from annoyed ex-employees accusing management of not having a consistent vision
After printing all time record lows at $0.135, the stock has begun a bounce and recovery. Some good momentum here, but technically, the stock remains in a downtrend and can see selling resume. What bulls want to see is for the stock to take out the $0.24 level since this is the current lower high keeping the downtrend intact.
