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Why Velo3D Stock Is Spiking 39% Today

TheMotleyFool

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The stock of Velo3D (NYSE: VLD) ran up 39% by 1:56 p.m. ET on Wednesday. The additive manufacturing company, known for signing SpaceX as its first customer, crushed its earnings report.

Revenue shot up 160% from a year ago, and 60% from the previous quarter. Sales are jumping so fast, CEO Benny Buller thinks the company might grab the top spot in its industry by the fourth quarter.

In the second quarter, Velo3D reported $19 million in sales, so that fantastic growth is coming off a tiny base. Last year, the company came public via a special purpose acquisition company (SPAC), and like a lot of SPAC stocks, it might be too early for conservative investors to consider. But the potential is nonetheless exciting.

Source Fool.com

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