Why 3D Systems (DDD) stock is rising today

What happened:

Shares of 3D printing company 3D Systems ( NYSE:DDD ) rose 9.2% in the afternoon session after the company announced it received FDA approval for its Jet Prosthetics solution, which uses jet technology to to create durable, aesthetically pleasing prostheses. FDA approval should provide a clearer path to commercialization and signal to investors that the company can monetize the product.

In particular, the company is partnering with Glidewell, one of the largest dental laboratories, as part of its market penetration efforts. Also, the global market for 3D printed dentures is expected to reach $2 billion by 2028 (using estimates from 360 Market Updates), and the announcement suggests that 3D Systems is well positioned to capture market share.

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What the market tells us:

Shares of 3D Systems are highly volatile and have had 65 moves of more than 5% in the past year. Against that background, today’s move indicates that the market sees this news as significant, but not something that would fundamentally change its perception of the business.

3D Systems is down 57.7% year-to-date, and at $2.60 a share trades 61.7% below its 52-week high of $6.79 dated December 2023. Investors who bought the stock 3D Systems worth $1,000 5 years ago would now be Looking at an investment worth $300.58.

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