Why Nano Dimension Stock Rocketed Almost 15% Higher Today
Nano Dimension (NASDAQ: NNDM) had quite a memorable Thursday on the market following the release of the 3D printing company's latest quarterly earnings report. It notched a new all-time-high revenue figure and announced the resumption of a shareholder-pleasing measure.
As a result, the price of its American Depositary Receipts (ADRs) leaped almost 15% higher on the day, crushing the less than 0.5% increase of the S&P 500 index.
Nano Dimension unveiled its first-quarter figures before market open that day. It booked revenue of slightly under $15 million for the quarter, which was a robust 24% higher year over year. More good news was to be found on the bottom line where, according to generally accepted accounting principles (GAAP) standards, the company flipped to a profit of $22 million ($0.09 per ADR) against the over $33 million loss in the year-ago quarter.
Source Fool.com
