We continue to have a close eye on shares of Nextech Ar Solutions Corp (OTCMKTS:NEXCF), which have been outperforming steadily over recent months. To add some color to this narrative, the company just announced that NexTech’s 3D augmented reality (3D/AR) solution for eCommerce will integrate seamlessly with Facebook Messenger.
According to the release, “This new integration works on desktop computers as well as mobile phones providing a full screen, device agnostic, web-based 3D/AR experience on Facebook messenger. According to TechCrunch, Facebook Messenger currently sees 70 million daily active users, and it has a total of 1.3 billion monthly users. Every day, there are 260 million new conversations launched over Messenger with over 17 billion photos sent every month on Facebook Messenger according to TechCrunch. The Messenger customer chat plugin allows Nextech to integrate Messenger experiences directly into their customers website or mobile website. By offering the same personalized, rich-media experience they get in Messenger only with the added features of 3D/AR assets Nextech’s customers now have a major leg up on their competition.”
Nextech Ar Solutions Corp (OTCMKTS:NEXCF) bills itself as a company that engages in the acquisition and development of augmented reality (AR) technology.
The company offers ARitize eCommerce, the browser-based and Web enabled AR shopping platform; ARitize Retail Showroom that provides choice, convenience, ratings, and reviews with the benefits of being in-store; ARitize App that allows to sell, learn, communicate, and share product, service, or experience through AR; and ARitize University, an AR learning system.
It also provides ARitize Studios, which enables customers to beam in to 3D volumetric space as a hologram, and create an interactive yet intimate connection with audiences from all over the world; and Hoot 3D eCommerce solution that shows 3D and 360 degree product photography.
In addition, the company sells vacuum cleaners and parts through retail stores and online sales channels; and pet supplements through online sales channels. NexTech AR Solutions Corp. was incorporated in 2018 and is based in Vancouver, Canada.
According to company materials, “NexTech is a leader in the rapidly growing AR industry, estimated to hit $120 billion by 2022, according to Statista. NexTech, the first publicly traded “pure-play” AR company, began trading on the CSE on October 31st, 2018. NexTech has a two-pronged strategy for rapid growth including growth through acquisition of eCommerce businesses and growth of its omni-channel AR SaaS platform called ARitize™. NexTech has an exclusive license to a portfolio of patents 7,054,831, 7,266,509 and patent-pending applications 15351508, 62457136, 62559487, related to interactive gaming, interactive advertising, and augmented reality (“AR”) technology. The company is pursuing four multi-billion dollar verticals in AR.”
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As noted above, NEXCF just announced that NexTech’s 3D augmented reality (3D/AR) solution for eCommerce will integrate seamlessly with Facebook Messenger.
If you’re long this stock, then you’re liking how the stock has responded to the announcement. NEXCF shares have been moving higher over the past week overall, pushing about 17% to the upside on above average trading volume. Furthermore, the stock has witnessed a pop in interest, as transaction volume levels have recently pushed 61% over the long run average.
“With this integration NexTech AR continues to build momentum as it scales up customer wins and is at the forefront of making AR easy to implement and quickly accessible to everyone,” states Evan Gappelberg, CEO of NexTech AR. “NexTech’s industry-leading augmented reality eCommerce platform was specifically designed to enhance product engagement, increase add to cart rates and to reduce product returns. Our integration with Facebook Messenger and it’s huge unparalleled ecosystem brings Nextech AR deeper into the eCommerce marketplace and provides an enormous opportunity for more customer wins.”
Nextech Ar Solutions Corp (OTCMKTS:NEXCF) generated sales of $1.5M, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 7.7% on the top line. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($1.4M against $1M). Sign-up for continuing coverage on shares of $NEXCF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $NEXCF, either long or short, and we have not been compensated for this article.