A shell company preparing for a crypto mining merger after bringing on a new CEO and launching its website very soon, Nextmart Inc. (OTC: NXMR) is attracting investors’ attention after a 103% increase on January 7th when NXMR announced its merger will be finalized by this week. With these upcoming catalysts, the stock has been on a steady upwards. Over the past week it has maintained this value and is up 112% – possibly making it one of the penny stocks to buy right now ahead of its merger.
NXMR historically operated in the art marketing industry before becoming inactive but has been gaining momentum after announcing its merger in the crypto mining industry. With a total comprehensive loss of $74 thousand on the books, NXMR became current with the OTC Markets in November under its sole officer – Kathryn Gavin. To keep its shareholders and OTC investors up to date, the company purchased Level 2 real time quotes for its OTC Markets profile.
After working with Gavin as a business consultant for the company, William Bouyea was named CEO thanks to his management and brand growth expertise. Bouyea specializes in identifying and negotiating potential business targets which has made investors bullish on the company’s ability to expand through acquisitions.
On this note, NXMR’s new CEO stated that it’s an exciting challenge to take over the “revenue driven enterprise” and that following the acquisition NXMR will “not only increase the revenues, but also expand the business operations of each in areas not thought of by the previous ownership.”
He added that the company is currently working to enter an “up and coming industry” through the formation of a new subsidiary. As a company that’s actively taking advantage of new business opportunities, NXMR could be exploring possibilities related to the metaverse or other lucrative sectors.
Till now, the only merger details released by the company have been its sector but its management has promised to release more details this week with the launch of its website. Investors are very bullish regarding the company’s progress since the CEO stated in November that “by closing this first crypto mining transaction, we plan to move very quickly by acquiring other related assets on a regular basis”. This means, once this merger is complete, NXMR will have numerous catalysts driving growth ahead of it.
In preparation for its new growth, the company is also moving to a new office and will be updating its location soon. Considering its entrance into a crypto mining, the revenue this will bring, and its potential plans for a subsidiary, NXMR could prove to be one of the best penny stocks to buy ahead of the merger. Based on the company’s latest announcement the merger and new site will be complete within two days and is in negotiations with two companies “with real assets” to integrate with NXMR.
Since its initial share reduction in 2021, the share structure has not changed. With an AS of 750 million and an OS of 374 million – of which only 43 million shares are restricted – NXMR has a low float of 41 million. The company assured its shareholders that there are no plans for dilution plans and announced it will maintain its share structure for at least a year – a bullish sign for the company’s long-term shareholders.
Investors like @JohnRSpano1 are excited to hold NXMR with this week’s catalysts driving its growth
Seems like @MattRiv2 made the right call with NXMR and his followers could be cashing in soon too
Following an upwards trend this past week, NXMR is currently trading at $.0519 with a newly formed resistance at .0585 and a primary support around .0349 and a stronger secondary support at .0208. After becoming overbought earlier this week, the RSI has cooled off at 55 and the MACD is bearish. However, accumulation continues to increase notably.
The rising accumulation is a strong sign of NXMR’s momentum as the stock moves towards November’s high of $.067. NXMR was pink limited at the time and could hit even higher levels with this line up of catalysts.
Should you buy?
NXMR’s investors feel confident in the company after its assurances that the coming days will be filled with milestones. Investors are waiting for more details regarding its merger in the crypto mining sector which will likely be revealed along with the company’s new website. Given the stock’s already high PPS, its important not to chase in the possible run up. But, bullish investors can begin with a starter and see how the stock reacts to these catalysts playing out over the next 48 hours. In light of this, NXMR might be one of the best penny stocks to buy this week.