Changing Technologies Inc(OTCBB:CHGT) has been moving in a bullish trend since start of the year, 2014. CHGT touched its high of $3.48 at a trading volume of around $46k in August, 2014.
The share price saw it’s highest of $6.39 while its lowest was $0.23 in 52-week range. The stock maintains normal liquidity with average volume of 0.2 million shares per day.
In 2015 CHGT was not able to maintain its share price as compared to 2014 and make a steep downward movement by the start of the year 2015.
Changing Technologies Inc(OTCBB:CHGT) is on the move but not doing well on charts because of the heavy promotion made by several promoters in exchange of $26,000 and shares.
Changing Technologies Inc(OTCBB:CHGT) is an emerging technology company focused on developing innovative concepts to bring to consumers. It recently created a new subsidiary — 6th Dimension Technologies — to pursue additional growth areas and market needs in the booming 3D printing sector. A forward-thinking company working to be at the forefront of the next generation of consumer-based technology, CHGT is positioning itself to leverage global demand for the latest technological advances and services the company offers.
Changing Technologies Inc(OTCBB:CHGT) continues to develop innovative new retail 3D printing strategies, the global 3D printing industry is set to make a major leap this year. Industry research firm Gartner, Inc., forecasts that worldwide 3D printer shipments will double in 2015, rising to 217,350 units from last year’s total of 108,151.
What’s more, Gartner predicts that 3D printer shipments will continue to more than double every year for the next three years, when worldwide shipments are forecast to surpass 2.3 million units. Key market drivers for new 3D printers include lower prices, improved performance and increasing availability.
“3D printing innovators are delivering better, less costly products, and that is leading to an explosion in demand from consumers,” said CHGT CEO Omar T. Durham. “The market has reached an inflection point. Our company plans to capitalize on the projected growth by delivering convenient and superior 3D printing services to the public that can’t be matched by any consumer-ready machine.”
Indeed, the 2.3 million shipments forecast for 2018 by Gartner represent only a fraction of the total potential marketplace of consumer, business and government applications for 3D printing technology. CHGT has put together a business plan designed to capture more of this potential business by delivering an on-demand, interactive retail 3D printing experience. The company is developing an online 3D printing portal built by interactive software developer Advarion Incorporated for CHGT subsidiary 6th Dimension Technologies (6D3D) that will give users the ability to search its database for printable 3D models and purchase them from the site. It will also offer original equipment manufacturer (OEM) replacement-part manufacturing, as well as licensing opportunities for game and animation developers.
Changing Technologies Inc(OTCBB:CHGT) is a typical development stage company with $0.03 million cash and total assets of $0.09 million. The company has total liabilities of $0.06 million resulting in positive equity. CHGT trading in green and continuously trying to trade in impressive volumes, however does not seem to be moving anywhere close to its earlier position in the near future.
Considering the fundamentals its market capitalization of $25.81 million is clearly overstated.
1 Chart Pattern Every Investor Should Know
This little-known pattern preceded moves of 578% in ARWR, 562% in LCI, 513% in ICPT, 439% in EGRX, 408% in ADDUS and more...