Nano Dimension Ltd. (NASDAQ: NNDM) is having an overwhelmingly positive start to the trading session this morning, and for good reason. Early this morning, the company announced news that it has become a Certified Vendor to the United States Department of Defense (DoD). Of course, the news excited investors, sending the stock on a dramatic run for the top. Today, we’ll talk about:
- The news;
- what we’re seeing from NNDM as a result; and
- what we’ll be watching for with regard to the stock ahead.
NNDM Is Now A Certified Vendor To The DoD
As mentioned above, Nano Dimension is having an incredibly strong day in the market today after announcing that it has earned a position as a certified vendor to the United States Department of Defense. In a press release issued early this morning, the company announced that it has sold a DragonFly 2020 Pro 3D Printer to a United States-based, global top ten, defense company. In the release, NNDM said that the sale marks the second purchase of a Nano Dimension 3D printed electronics system by the customer.
In the release, the company also announced that its United States subsidiary has achieved United States Government Vendor Status. As a result, the company received a Commercial and Government Entity (CAGE) Code from the United States DOD. These codes are used extensively within and by the United States federal government.
Due to the fact that NNDM is now an approved vendor, the company can now pursue and conduct business directly with the United States federal government and its agencies. This includes the Department of Homeland Security and other Department of Defense entities. In a statement, Amit Dror, CEO at NNDM, had the following to offer:
Receiving a CAGE code is a critical step in affirming Nano Dimension’s position in the United States. Now, as a recognized U.S. government additive manufacturing supplier for defense projects, our DragonFly 2020 Pro 3D printer may play a crucial role in projects such as keeping risks down and solving complex design challenges, while speeding the R&D process up significantly… We also are pleased to expand our relationship with our existing customers, and open the door to more and more companies who will embrace our 3D printed electronics technology, materials and software, so they can benefit from significant time and cost savings over traditional prototyping processes, to meet rapidly changing demands from defense contractors.
What We’re Seeing From The Stock
As a vendor to the United States federal government, new and potentially massively profitable opportunities have been created for Nano Dimension. With this news, it’s no surprise to see that excited investors are sending the stock on a dramatic run for the top. As is almost always the case, our partners at Trade Ideas weere the first to alert us to the gains. At the moment (9:46), NNDM is trading at $2.76 per share after a gain of $1.43 per share or 107.43% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on NNDM. In particular, we’re interested in following the story surrounding the company’s new relationship with the United States federal government and the revenue it generates. Nonetheless, we’ll continue to follow the story closely and bring the news to youa s it breaks!
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