Problems at Nano Dimension (NNDM)

Problems at Nano Dimension (NNDM)

Nano Dimension (NASDAQ: NNDM — $2.14 billion), an Israeli 3D printing company, has risen over 1,000% on optimism that its DragonFly printer can be used to make electronic circuit boards. Nano Dimension’s current CEO has been previously accused, but never convicted, of an “extortion attempt” and the company’s former Chairman was arrested on charges of money laundering, aggravated fraud, and securities violations. Nano Dimension’s history includes consistent unprofitability, serious dilution, an OTC to NASDAQ uplisting, a 50 for 1 reverse split, and 253 press releases.

Nano Dimension lacks the economic substance of many other multi-billion companies. Its revenue in 2020 totaled $3.4 million, less than half its $7.1 million in revenue during 2019. In its 10-K for the year ended 2020, Nano Dimension disclosed having 87 full-time employees, down from the 91 people it employed in 2018. Over the last five years, the company has spent approximately $42 million in R&D and earned $17 million in …