Since June 24, Desktop Metal’s stock was on a constant decline. On that day, it reached $13.23. Today, after almost four weeks, it is currently $9.1 in the pre-market, resulting in a 31% loss. Despite this not-so-good news, there is some positive news as well. Last Tuesday, the company announced the acquisition of Aerosint, a multi-material recoating systems provider for additive manufacturing, boosting its portfolio. This purchase will enable Desktop Metal to access Aerosint’s proprietary digital process and offer accurate and high-speed printing across a wide range of products like polymers, metals, and ceramics.
Another good news could be that purchasing a Belgium-based company also hurt 3D Systems stock. After the purchase, the stock has lost nearly 28%. Desktop Metal said in a press release that multi-material printing is the next leader and that Aerosint’s technology unlocks a range of new use cases for additive manufacturing.
The CEO of Desktop Metal, Ric Fulop, added that this transaction advances their strategy to own differentiated print technologies that enable an expanding set of AM 2.0 applications at scale. So now, it will be very interesting to see if Desktop Metal’s stock will finally rise and 3D systems will find a way to uplift stock.
Finance and Entertainment Reporter
Richard is a bottle of wine – the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.