DDD - Why 3D Systems Stock Surged 23% on Wednesday
2024-06-05 13:05:01 ET
Shares of 3D Systems (NYSE: DDD) leaped 23.4% higher through 11:50 a.m. ET on Wednesday after the company announced it's leaning into the expanding market for 3D-printed teeth and their alignment, protection, and repair.
The company has announced the signing of a contract worth as much as $250 million with an unnamed company to support "the indirect manufacturing process for clear aligners" through 2028.
For a stock with $488 million in trailing-12-month revenue, this is a big deal. The multiyear purchase agreement, as 3D described it , will support the manufacture of about one million customized clear aligners per day. And the company said that its NextDent technology can also produce other dental equipment including surgical guides, dentures, orthodontic splints, retainers, crowns, and bridges.
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Why 3D Systems Stock Surged 23% on Wednesday