Even though 3D printing technology is still in its early stages, companies in this space are projected to witness significant growth in the coming months. However, not all companies are expected to benefit from the 3D boom. Nano Dimension (NASDAQ:NNDM), is best known for its DragonFly lights-out device, but is it a good stock to buy now? Let’s find out.Headquartered in Israel, Nano Dimension Ltd . (NNDM) is an additive electronics company well-known for its DragonFly lights-out digital manufacturing technology. The stock has lost 15.5% over the past month and 45.3% year-to-date to close its last trading session at $4.98.
The company suffered a severe setback amid the COVID-19 pandemic as several of its production units had to be closed. Furthermore, the demand for NNDM's products and services — such as its 3D printing technology for creating electrical devices — also saw a dramatic drop in demand, which led to the stock plummeting over the past couple of months.
Furthermore, with widespread usage of 3D printing technology in the automobile industry to produce prototypes and other functioning parts, the industry is experiencing stiff competition. And given NNDM's poor fundamental performance and grim near-term prospects, the company is struggling to stay afloat amid rising competition.