Technology Sector Update for 12/28/2022: NNDM, SOPA, TSM, GRRR

Technology stocks were declining on Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 1.6% and the Philadelphia Semiconductor Index retreating 1.5%.

In company news, Nano Dimension (NNDM) slipped 1.5%. The additive electronics company said it sold two of its 3D Fabrica 2.0 Systems to Accumold, an injection molding company that had been using a beta version of the 3-D microprinter since last May. Financial terms were not disclosed.

Society Pass (SOPA) fell 2.2% after the software firm said its Thoughtful Media subsidiary in Thailand has acquired Indonesian creative design and branding agency More Media. Financial terms were not disclosed.

Taiwan Semiconductor Manufacturing (TSM) slid about 1.7% following a Digitimes Asia report the chipmaker could see revenue drop 15% during its first quarter compared with the current December quarter, citing industry sources who blamed declining capacity utilization rates at the company’s production facilities.

Gorilla Technology Group (GRRR) gained almost 40% after saying late Tuesday it was negotiating with an undisclosed Middle Eastern government to provide cybersecurity technology for one or more cities.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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