Desktop Metal Stock Drops on Earnings Miss and Guidance Cut
Desktop Metal (NYSE: DM) reported third-quarter 2021 results after the market close on Monday that disappointed market participants in the day's after-hours trading session. They drove shares down 5.7% after hours, which followed the stock's 6.9% decline in Monday's regular trading session.
In 2021, shares of Desktop Metal (which went public in December 2020 via a special purpose acquisition company, or SPAC) are down 53.4% through Monday's regular trading session. By comparison, the S&P 500 index has returned 26.2%, and shares of 3D printing companies 3D Systems and Stratasys are up 149% and 59.7%, respectively, over this period.
Image source: Getty Images.
Source Fool.com
