Why Nano Dimension's Stock Is Trading Higher Today

Nano Dimension Ltd - ADR NNMD shares are trading higher after the company reported fourth-quarter earnings results.

Nano Dimension reported revenues of $1.97 million for the fourth quarter and $3.34 million for the full year 2020.

The company said it ended the fourth quarter of 2020 with $670.93 million in cash and bank deposits. The total loss for the fourth quarter was $17.44 million.

Ark Funds CEO Cathie Wood recently joined the "Raz Report" and discussed her thoughts on Nano Dimension. Ark owns several positions of Nano Dimension.

"Originally it used to call itself a 3D printed circuit board company," Wood said. "Now, Nano Dimension has broadened the view of itself into a 3D-printed-technology device company."

See also: How to Buy Stocks

Nano Dimension's story is also winning contracts from defense agencies. Wood pointed out how Ark "always looks for where the defense is putting their money."

Nano Dimension shares are trading higher by 15.6% at $10.85 at the time of publication.