DM - Why Desktop Metal Stock Wilted on Wednesday
Desktop Metal (NYSE: DM) was hardly the most solid stock on the market Wednesday. The company's share price fell by over 1% on the day, a worse showing than the slight decline of the S&P 500 index. A C-suite departure wasn't sitting well with investors.
Just after market hours on Tuesday, Desktop Metal -- a maker of 3D printers -- announced that CFO James Haley would be stepping down from his position. He is going to "pursue other interests." The company did not get more specific and did not detail the reasons for his move.
It seems that the departure isn't acrimonious. Desktop Metal added that Haley will stay in the post until at least the end of this year or until a replacement CFO is appointed, whichever comes first. Following this, he will serve as an advisor to the company for an unspecified time thereafter.
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Why Desktop Metal Stock Wilted on Wednesday