Why Desktop Metal Stock Fell Apart Today
Shares of Desktop Metal (NYSE: DM), a maker of 3D printers, got cut literally in half on Tuesday -- down 53% as of 3:15 p.m. ET, despite the company reporting first-quarter revenue ahead of expectations. The problem: Desktop Metal also reported earnings way below expectations.
Heading into the quarter, analysts had forecast that Desktop Metal would lose $0.13 per share on sales of $41.6 million. In fact, the company lost $0.22 per share, despite sales coming in at $43.7 million.
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Source Fool.com
