Why Could Nano Dimension Ltd (NNDM) Stock Continue to Jump This Week?

The Nano Dimension Ltd – ADR (NASDAQ:NNDM) stock seems to be on the path to recovery after having declined considerably from its peak in February. The stock has managed to recover by as much as 25% from its recent lows and on Monday, the Nano Dimension stock surged by another 9%.

Why Could Nano Dimension Ltd (NNDM) Stock Continue to Jump This Week?

However, it should be noted that the stock is still down by 50% from its February peak. The rally in the stock really started last week after the company announced that it signed a definitive agreement with regards to the acquisition of the machine learning and deep learning tech firm DeepCube.

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At the time, Nano Dimension announced that DeepCube shareholders are going to be paid $40 million and on top of that $30 million worth of the company’s American Depository Shares are also going to be a part of the deal. Yoav Stern, who is the Chief Executive Officer of Nano Dimension, stated that the DeepCube’s technology will be useful with regards to the manufacturing of edge devices.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.