Why 3D Systems Stock Crashed 14% Today
Nearly a week after 3D printer company Stratasys (NASDAQ: SSYS) reported a big loss for its fiscal second quarter of 2022 -- and lost 4% of its market cap in consequence -- Stratasys archrival 3D Systems (NYSE: DDD) reported a sizable loss of its own.
As of 11 a.m., 3D Systems stock is down 14%.
Heading into its Q2, analysts had forecast 3D Systems would just break even on sales of $149.1 million. As it turned out, the company missed that sales target, with quarterly revenue coming in 14% lower than a year ago at just $140 million. 3D Systems also failed to break even from a profits perspective, reporting a loss of $0.07 per share instead.
Source Fool.com
