Why Nano Dimension Stock Zoomed 7% Higher on Monday
Nano Dimension (NASDAQ: NNDM) investors didn't exactly have a bad case of the Mondays at the kickoff of this trading week. That's because their stock saw a nice pop of more than 7% in price on the day, well exceeding the 0.9% increase of the S 500 index. That share price jump was due largely to an investor-pleasing measure announced by company management.
Investors tend to love when their company announces a share repurchase program, as such moves tend to provide support for a stock's price. This is why they greeted Nano Dimension's news of a new buyback initiative so warmly.
The 3-D printing specialist said its board of directors has authorized such an initiative for the company's -listed American Depositary Shares (ADSs). This allows Nano Dimension to purchase up to $227.5 million worth of the securities. The company did not specify an expiration date for the program.
Source Fool.com
