What Happened?
Shares of 3D printing company 3D Systems (NYSE: DDD) jumped 21.4% in the morning session after the company announced it was awarded a $7.65 million contract from the U.S. Air Force.
The contract is for a Large-format Metal 3D Printer Advanced Technology Demonstrator and is an extension of a program that began in 2023. The project focuses on developing large-scale, high-speed additive manufacturing capabilities suitable for flight applications. This technology is crucial for 3D printing large, high-temperature metal structures designed for high-speed flight environments. The award highlights the ongoing collaboration between 3D Systems and the U.S. Department of Defense, reinforcing the company's role in advanced manufacturing for the aerospace and defense sector. Work on the project is expected to be completed by September 27, 2027.
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What Is The Market Telling Us
3D Systems’s shares are extremely volatile and have had 74 moves greater than 5% over the last year. But moves this big are rare even for 3D Systems and indicate this news significantly impacted the market’s perception of the business.
The previous big move we wrote about was 7 days ago when the stock dropped 3.1% on the news that markets continued to decline, as investors grew cautious ahead of a key speech by Federal Reserve Chair Jerome Powell. The move came as U.S. equity markets recorded a fifth consecutive day of losses for major indexes like the S&P 500, with technology stocks experiencing the largest declines. Investors have grown wary that the sharp rally in the tech sector since April may have advanced too far. The market-wide caution is largely driven by the upcoming Jackson Hole symposium, a meeting of central bankers, where traders are anxiously awaiting Fed Chair Powell's speech on Friday for guidance on the future path of interest rates.
3D Systems is down 18% since the beginning of the year, and at $2.63 per share, it is trading 44.4% below its 52-week high of $4.72 from February 2025. Investors who bought $1,000 worth of 3D Systems’s shares 5 years ago would now be looking at an investment worth $494.35.
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