Why Xometry Stock Was Zooming Higher This Week
Next-generation manufacturing platform developer Xometry (NASDAQ: XMTR) was shaping up to be a big winner on the stock exchange this week. Thanks to news that a veteran executive at a top company in the industrial sector was joining its board of directors, the stock saw a decent pop in price. It was up by more than 13% week to date as of Friday before market open, according to data compiled by S&P Global Market Intelligence.
On Thursday, Xometry announced that Roy Azevedo had been appointed a seat on the board. Azevedo is the former president of two business units within industrial sector titan ; he recently served in the position in its space and airborne systems, plus the intelligence and space unit. At the moment, he serves as an advisor to that company; all told, his tenure there spans more than 30 years.
In its press release heralding the appointment, Xometry wrote Azevedo is "a highly regarded executive whose background in engineering and deep expertise in global manufacturing and supply chain management makes him an excellent addition to our board."
Source Fool.com
