DDD - Why 3D Systems Stock Collapsed on Wednesday
2023-10-25 13:30:50 ET
Shares of 3D Systems (NYSE: DDD) were down 13% as of 12:06 p.m. ET on Wednesday after the company withdrew its full-year outlook.
The 3D printer company offered preliminary results for the third quarter that call for revenue to be between $123 million and $124 million, representing a year-over-year decline of about 7%. This comes on top of a 15% decline in revenue in Q3 2022.
The company called out the uncertain macroeconomic and geopolitical environment for why it has decided to withdraw its full-year outlook. The news adds to the uncertainty for near-term sales trends, which has already sent the stock down 48% year to date.
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Why 3D Systems Stock Collapsed on Wednesday