NNDM Stock Price: Nano Dimension Ltd pauses for breath after recent rally

NASDAQ:NNDM is up nearly 60% for 2021.
ARK Invest had earlier pushed the shares higher on Monday.
Nano Dimension up over 500% for the last 12 months!

Stocks Reporter FXStreet

Update: Nano Dimension (NNDM) shares paused for breath on Wednesday. Understandably given the run NNDM has been on and given the broader weakness, with most stock market indices down. Technical support at $13.96 is the 23.2% Fibonacci retracement of the move in the NNDM. The RSI has yet to match the new highs in the NNDM. This is usually a bearish sign, but given the size and speed of the move, it is not unusual as RSI is a lagging indicator.

NASDAQ:NNDM has been a stock on a mission this year as investors have piled into the 3D printing technology firm. So far in 2021, shares have climbed by 84% despite the fact that the company has done multiple new share offerings over the past few quarters. On Monday, Nano Dimension gained a further 15.77% hitting a new all-time high of $17.85 before settling back down to $16.66 before the closing bell. Nano Dimension has now returned over 500% to investors over the past 52-weeks, and all of a sudden, the company has a market cap of nearly $3 billion.

One of the most revered investment firms on Wall Street, Ark Invest, doubled down on their faith in Nano Dimension by adding another 300,000 shares to its ARKQ fund which is for companies who are in the autonomous technology and robotics space. A further 30,000 shares were added to ARKW, which is the ETF that covers the next-generation internet companies. Both are highly thought of by both institutional and retail investors alike, and receiving the thumbs-up from Ark Invest is a sure way to get on the radar of investors everywhere.

NNDM stock forecast

Nano Dimension also announced that Dr. Eli David, a world-renowned artificial intelligence and deep learning expert is joining the company’s Board of Directors, as it looks to strengthen its leadership team. Dr. David’s impressive artificial intelligence portfolio includes being a co-founder of Deep Instinct, which is used for cybersecurity. Nano Dimension also proposed a further share offering slated for the middle of February, which could potentially offer another 18 million shares for investors. While share dilution is never popular amongst investors, capital raising generally benefits the company in the long-run.

Author

Stocks Reporter

FXStreet

USD/JPY eyes August swing low, near 155.20 ahead of US NFP

USD/JPY retests the August monthly swing low during the Asian session on Friday as a more hawkish repricing of BoJ rate-hike bets and a suspected intervention continue to underpin the Japanese Yen. Meanwhile, the US Dollar is seen consolidating the previous day's heavy losses amid soft US bond yields, further weighing on the currency pair as traders keenly await the US NFP report.

AUD/USD consolidates above 0.7200; US NFP awaited

AUD/USD holds steady above 0.7200, near its highest level since mid-May, as bulls await the US NFP report for more cues on the Fed's policy path before placing fresh bets. Meanwhile, the recent decline in US bond yields keeps the US Dollar depressed near its lowest level in over a week and acts as a tailwind for the Aussie amid the RBA's hawkish tilt.

Gold tumbles as blockbuster US NFP lift US Dollar, Treasury yields

Gold (XAU/USD) falls sharply on Friday, snapping a two-day recovery after the US Nonfarm Payrolls (NFP) report surprised strongly to the upside. The metal briefly climbed above $4,500 on Thursday, gaining nearly 2%, but has since erased a large part of that advance.

Crypto’s $638 million buyback boom may not be as bullish as it looks

Decentralized Finance (DeFi) protocols reportedly spent $638 million to buy back their native tokens in August, up 17% from a year earlier. On the surface, the buyback trend suggests the cryptocurrency industry is maturing fast, adopting one of Wall Street’s oldest tools to bolster valuations and distribute revenue. The headline becomes less impressive once the number is opened up.

Why hawkish Bank of Japan expectations aren't enough to sustain the Japanese Yen rally

The Japanese Yen (JPY) experienced a sudden burst higher after falling back below the 160.00 psychological mark against the US Dollar (USD) earlier this week amid a more hawkish repricing of Bank of Japan (BoJ) rate hike expectations.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.