Â© Reuters. Is Nano Dimension a good stock of 3D printers to own?
Even though 3D printing technology is still in its infancy, companies in this space are expected to experience significant growth in the coming months. However, not all businesses are expected to benefit from the 3D boom. Nano Dimension (NASDAQ :), is best known for its DragonFly light extinguishing device, but is it a good stock to buy now? Let’s find out. Based in Israel, Nano Dimension Ltd . (NNDM) is an additive electronics company well known for its DragonFly lights-out digital manufacturing technology. The stock fell 15.5% over the past month and 45.3% year-to-date to close its last trading session at $ 4.98.
The company suffered a serious setback amid the COVID-19 pandemic as several of its production units had to be shut down. In addition, the demand for NNDM’s products and services, such as its 3D printing technology for the creation of electrical appliances, has also seen a dramatic decline in demand, which has caused inventory to fall over the years. last two months.
In addition, with the widespread use of 3D printing technology in the automotive industry to produce prototypes and other functional parts, the industry faces stiff competition. And given NNDM’s poor fundamental performance and bleak near-term outlook, the company is struggling to stay afloat amid increasing competition.
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