The Nextech AR Solutions Corp (OTCMKTS:NEXCF) stock was in the middle of considerable selling pressure last week and ended the week with losses of as much as 20%. The company, which is well known for being a major player in the fast growing augmented reality space, was out of favour last week among investors.
However, at the same time, it should be noted that there was no news about Nextech AR Solutions last week. That being said, it was back on July 9 that the company announced that Map Dynamics, a mapping software platform meant for trade shows and events, has already clocked $500000 in revenues since it was acquired by Nextech AR Solutions.
That was a significant announcement from the company and is an indication that its acquisition has already started bearing fruit. However, that is not all. It was also announced that the Florida Society of Association Executives awarded Map Dynamics with the Supporting Associate Organization of the Year. It is a prestigious award for Map Dynamics and another indication of the sort of acquisition that had been made by Nextech AR Solutions. While it is true that the stock declined last week, it now remains to be seen if it can mount a recovery this week.
Market Reaction:
On Friday, NEXCF stock fell 7.40% at $1.57 with more than 233k shares, compared to its average volume of 200k shares. The stock had moved within a range of $1.5500 – 1.7000 after opening the trade at $1.70. Over the past 52-week, the stock has been trading within a range of $1.5000 – 6.9700.
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