DM - Why Desktop Metal Stock Is Sinking Today
Shares of Desktop Metal (NYSE: DM) slumped as much as 10% by 2:30 p.m. EST on Wednesday. Weighing on the 3D printing company was news that it closed its acquisition of EnvisionTEC.
Desktop Metal paid $300 million in cash and stock to acquire EnvisionTEC, a leading global provider of volume production photopolymer 3D printing solutions. The company is a pioneer in digital bio fabrication additive manufacturing. It makes biocompatible parts for the healthcare sector for applications like bone regeneration, cartilage regeneration, soft tissue fabrication, drug release, and organ printing. It's also a leader in the dental market, as more than 1,000 dental customers use its printers for pre-production and end-use parts.
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Why Desktop Metal Stock Is Sinking Today