Why IPG Photonics Stock Dropped Today
Shares of IPG Photonics (NASDAQ: IPGP) fell 10.4% on Monday, despite no material negative news for the fiber laser and amplifier specialist.
To be fair, in a press release this morning, IPG Photonics did announce its acquisition of Ontario, Canada-based Laser Depth Dynamics (LDD), a provider of quality monitoring and control solutions for laser-based welding applications. But terms of the deal weren't disclosed, and LDD is a 16-employee company. With IPG's market capitalization standing tall at roughly $10.8 billion as of this writing, the purchase was almost certainly too small to move the stock on its own.
IMAGE SOURCE: GETTY IMAGES.
Source: Fool.com