Desktop Metal (DM) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Desktop Metal (DM) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.
BOSTON, June 07, 2024--Desktop Metal, Inc. (NYSE: DM) (the "Company") announced today that its Board of Directors has approved a 1-for-10 reverse stock split of the Company’s Class A common stock. The reverse stock split will become effective at 5:00 p.m. Eastern Time on June 10, 2024, after close of trading on the New York Stock Exchange ("NYSE"). The Company’s Class A common stock is expected to commence trading on a split-adjusted basis when the markets open on June 11, 2024 under the existin