Is Nano Dimension a Good 3D-Printer Stock to Own? -Breaking
Despite the fact that 3D printing technology still has its infancy, there is significant potential for growth within this sector in the months ahead. But not all businesses will benefit from this 3D printing boom. Nano Dimension (NASDAQ :), which is most well-known for its DragonFly lights out device is a great stock to invest in now. Let’s find out.Headquartered in Israel, Nano Dimension Ltd . (NNDM), an additive electronics firm, is well-known for their DragonFly digital manufacturing technology. It has fallen 15.5% and 45.3% since the beginning of this year, closing its previous trading session at $4.98.
The COVID-19 epidemic caused severe losses for the company. Many of the production facilities had to be shut down. Furthermore, the demand for NNDM’s products and services — such as its 3D printing technology for creating electrical devices — also saw a dramatic drop in demand, which led to the stock plummeting over the past couple of months.
The industry faces stiff competition due to the widespread use of 3D printing technology within the automotive industry for prototypes and other functional parts. NNDM’s weak fundamental performance, and dim near-term prospects make it difficult for the company to remain afloat amid increasing competition.
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