Why Desktop Metal Shares Are Rising Today

Desktop Metal Inc DM is trading higher Tuesday after the company reported better-than-expected financial results and issued guidance above estimates. 

Desktop Metal said fourth-quarter revenue increased 123% quarter-over-quarter to $56.68 million, which beat the $49.58 million estimate. 

"We believe our strategic priorities in 2022 will ensure continued success toward achieving our goal of double digit share of the over $100 billion additive manufacturing market by the end of the decade," said Ric Fulop, co-founder and CEO of Desktop Metal.

Desktop Metal expects full-year 2022 revenue to be around $260 million versus the $253 million estimate. 

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DM 52-Week Range: $3.25 - $21.47

Desktop Metal shares were up 7.49% at $3.81 at time of publication.

Photo: CR-3D from Pixabay.