Why Desktop Metal Stock Dropped This Morning
After climbing nearly 2% on Monday in the face of an ominous note from Wall Street, bad news is catching up to Desktop Metal (NYSE: DM) today. Shares of the 3D printer company declined 6.4% through 10 a.m. EDT Tuesday morning.
Image source: Getty Images.
Monday morning, TheFly.com cited analysts from Lake Street Capital warning of "intensifying competition," a high stock valuation that is about three times more than its peers, and an imminent expiration of the lockup period on a ton of new shares. Together, these factors threatened Desktop Metal's stock price, Lake Street warned, and advised investors to sell the stock.
Source Fool.com
