Stratasys stock gains after Nano Dimension acquires 12.12% stake

• Nano Dimension (NASDAQ:NNDM) has disclosed a 12.12% stake in additive manufacturing company Stratasys (NASDAQ:SSYS).
• Nano Dimension (NNDM) made a strategic investment in Stratasys (SSYS), buying 12.12% of the outstanding ordinary shares of the company.
• "The purpose of Nano Dimension in buying Stratasys shares is the formation of a strategic investment in a market-leader which is well established in a relatively seasoned market segment," said Nano Dimension CEO Yoav Stern. Stern adds that, "We may increase or decrease our investment in Stratasys, subject to market conditions and other economic factors, while keeping it under the framework and envelop which will evolve from the description above."
• Stratasys provides connected polymer-based 3D printing solutions. The business generated $521M and $607M of revenue in 2020 and 2021, respectively. It is scheduled to announce its Q2 earnings on Aug. 03, 2022. Analysts expect the firm to report EPS of -$0.01 and revenue of $166.32M.
• SSYS shares have gained over 4% pre-market