Why Nano Dimension Stock Triumphed on Thursday
Usually, with publicly traded companies, a change in accounting regime doesn't have much of an effect on investor sentiment. That wasn't quite the case Thursday with additive manufacturing specialist Nano Dimension (NASDAQ: NNDM), which saw its share price bump almost 3% higher on news of such a shift. That rise contrasted rather well with the slight (0.4%) decrease of the S&P 500 index.
The change is from International Financial Reporting Standards (IFRS) frequently used by companies overseas, to the generally accepted accounting principles (GAAP) heavily favored in the U.S. This move is pleasing to the many U.S. investors who either hold or track the stock, as from now the company's financials will be in line with some of the top businesses in this country.
Image source: Getty Images.
Source Fool.com
