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Why Desktop Metal Stock Popped 4% This Morning

Rich Smith, The Motley Fool
·2-min read
Why Desktop Metal Stock Popped 4% This Morning

The company announced this morning that it has just won a "multimillion-dollar contract" from the U.S. Department of Veterans Affairs to produce compressed-foam products that can later be expanded to full size for use with patients. Desktop Metal says it uses its ETEC Xtreme 8K DLP printing system to 3D-print its new FreeFoam product from photopolymer resins that are compressed in an oven and can later be expanded anywhere from two to seven times their original compressed size. Desktop Metal says that the initial award under this contract is $2 million, with the potential to grow to $7 million in size.

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