3D Systems Corporation was off to what looked like it was going to be a rough day in the market early on. At the open of the trading session, the stock was already trading slightly red. From there, it fell further before finding some support, but remained red through the first 45 minutes or so. However, minutes ago, things changed as the stock started to soar, making it to the green quickly. Below, we'll talk about what we're seeing from DDD, why, and what we'll be watching for ahead.
What We're Seeing From DDD
As mentioned above 3D Systems wasn't looking like it was going to have the best of days in the market today. In fact, the morning was a bit rough. Since the opening bell, the stock has spent most of the day in the red. However, minutes ago, that all changed as the stock started screaming upward. Currently (10:16), DDD is trading at $16.97 per share after a gain of $0.05 per share (0.30%) thus far today.
Why The Stock Is Headed Up
As is almost always the case, our partners at Trade Ideas were the first to inform us of the gains on DDD. As soon as we got the alert, the CNA Finance team started to work to dig up the cause of the spike. While we were unable to find any fundamental news that was released by the company, we were able to dig up an interesting rumor in the social space.
At the moment, regardless of which social network you use, if you go to it and search for 3D Systems Corporation, chances are that you will see the rumor. The rumor suggests that the company will soon be taken over. According to the rumor, GE will be acquiring the company. However, keep in mind that, at this point, this is just a rumor that has not been confirmed by either side as of yet.
What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on DDD. In particular, we're watching to see if there is any validity to the takeover rumors going around at the moment. Of course, if there is, the move could generate incredible value for investors. We'll keep a close eye on the story and continue to bring it to you as it breaks!
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