DM - Why Desktop Metal Stock Popped 4% This Morning
Shares of 3D printing company Desktop Metal (NYSE: DM) surged as much as 4% in early trading Monday before retreating to about a 1.8% gain as of 11 a.m. EST.
The company announced this morning that it has just won a "multimillion-dollar contract" from the U.S. Department of Veterans Affairs to produce compressed-foam products that can later be expanded to full size for use with patients.
Think "bed in a box" as you read this story. Desktop Metal says it uses its ETEC Xtreme 8K DLP printing system to 3D-print its new FreeFoam product from photopolymer resins that are compressed in an oven and can later be expanded anywhere from two to seven times their original compressed size. Products to be made with this process will include orthopedic items like seat cushions and mattresses, and medical items.
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Why Desktop Metal Stock Popped 4% This Morning