MarketWatch, 20 May 2020
Shares of Nano Dimension Ltd. pulled a sharp U-turn to trade down 22% in premarket trading, to pullback from the previous session’s more-than 4-fold rally, after the Israel-based 3D printing company priced a share offering at a deep discount. The stock had been up as much as 91% early in the premarket session.
The company said its sale of 17.95 million American Depositary Shares (ADS) priced at $2.00, compared with Monday’s closing price of $3.40. The stock had rocketed 341.7% on massive volume of 331.9 million shares on Tuesday, after the company and Germany’s Hensoldt announced a new way to utilize 3D printing to develop high-performance electronics components.
Comment: 100% for sure someone — probably the placement company — provided insider information in advance to naked short sellers and the drove the stock down to cover their shorts.
No one investigates because SEC and FINRA work for Wall Street, not in the public interest.