Nano Dimension (NASDAQ:NNDM) shares were trading at $8 in April but the stock in August 11, 2021, closed at $6.38. The firm, having offices in Florida and Israel, had completed raising funds in new capital. Its balance sheet had $1.1 billion in cash by March-end. The company hired CEO and President Yoav Stern for building up the firm. Stern has put its own cash into warrants and the company has done two small acquisitions.
Nano Dimension purchased Deep Cube, a company harnessing AI for managing machines and the deal cost $40 million. Additionally, it purchased Nanofabrica, maker of 3D micro printers, for $25 million. NNDM also witnessed small traders on Reddit doing a short squeeze, pushing the price at more than $17, but the price has plummeted since. Additive manufacturing looks like a fancy idea but the original product wasn’t a success.
Tech whisperer Cathie Wood has bought shares of NNDM for two funds, Ark Next Generation Internet ETF and the Autonomous Technology & Robotics ETF. Chris Tyler had said that the firm is poised for some huge things.
Stern hasn’t done any further acquisitions but the CEO said that the lack of acquisition activity happened in a press release when the CEO said that investors shouldn’t expect much results for about a year till covid subsides. The CEO gave reassurance as well on the company’s technology high-performance electronic devices being better than competitors to Asia.