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Why Nano Dimension Stock Soared 42.2% in December

Why Nano Dimension Stock Soared 42.2% in December

Written by Paul

January 8, 2021

Shares of Nano Dimension ( NASDAQ:NNDM ) rose 42.2% in December, according to data from YCharts. The stock got a boost after the company announced that a substantial number of customers had put in orders for upgraded DragonFly 3D-printing machines.

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Shares continued to climb higher despite the company conducting substantial new share offerings in the month. December’s impressive gains followed a 110.5% surge for the company’s share price in November. Nano Dimension closed out 2020 with its stock up roughly 260%. I

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Nano Dimension gave an update on its business in a press release published on Dec. 4. The company revealed that 10 customers had upgraded to its new 24/7 DragonFly LDM machines in 2020. The announcement suggested that customers were seeing strong results from Nano Dimension’s technologies and were willing to invest in upgrades despite pandemic-related headwinds.

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The list of customers who upgraded to the new machines included U.S. government agencies, leading European electronics manufacturing organizations, and research institutions. Nano Dimension also completed substantial new direct share offerings in December. The company published a note on Dec. 9 announcing that it had closed the sale of 30 million shares at a […]

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