While previously involved in the cannabis industry, today SUTIMCo International, Inc. (OTC:SUTI) champions itself as a holding company entering the world of blockchain and NFTs. SUTI has caught investors’ attention after a 100% increase at the start of the month. Trading at its highest value in years, SUTI could be one of the NFT stocks to watch for.

Catalysts

As it stands, SUTI is a holding company, under the leadership of Edward I Vakser. Vakser is an investor and entrepreneur specialized in content development and marketing but more importantly, he has expertise in the area of mergers and acquisitions.

Currently, SUTI has no operations, subsidiaries, or assets. Nevertheless, the company announced the launch of its newest NFT technology on October 17th, which has generated a lot of interest in the company and could make it one of the most talked about NFT stocks.

SUTI’s biggest shareholder – apart from the Vakser – is CEO and entrepreneur Michael Woloshin. Woloshin is the founder of recruiter.com (NASDAQ: RCRT) which reported revenue of $1.99 million in its third quarter alone. He currently owns more than 500 million restricted shares of SUTI through his companies Cicero Transact Group Inc. and GCN Media Group Woloshin’s enthusiasm for blockchain and NFT technology is well known causing some to speculate that he will take on a role with SUTI. With this in mind, his large share of SUTI is a bullish sign for many investors.

SUTI is currently pink limited and could become current once its attorney letter is filed. But SUTI is already an attractive shell thanks to its lack of debt and share structure. As it stands, the company has 8 billion authorized shares of which 4.7 billion are outstanding. SUTI also has a market cap of about $13 million.

Media Sentiment

@AngryRed316 Looks like SUTI is getting a major boost in credibility thanks to Woloshin.

Technical Analysis

NFT stocks SUTI chart

Its initial 100% increase puts SUTI’s resistance at .003 but the stock is currently trading at $0.0029, with an immediate support at .0027 and a stronger support at .0024. Accumulation shot up at the beginning of the month, but has since plateaued. SUTI opened with a bullish crossover and the RSI is holding at 64.

Should You Buy?

The NFT market is rapidly growing, which is one reason why NFT stocks have become popular investments. Although SUTI currently has no operations, its NFT launch could be a major catalyst. Given Woloshim’s significant investment in the company, SUTI could become a merger candidate or an active NFT company once it is pink current. With this in mind, SUTI could pass its resistance point with news from its management and possibly reach $0.0035 once it becomes current.

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