Desktop Metal Inc (NYSE:DM) is trading higher Monday after the company announced it shipped its first Production System P-50 printer to Stanley Black & Decker Inc (NYSE:SWK).
Following nearly $100 million in investments and four years of development, Monday's announcement marks the commercialization of Desktop Metal's flagship additive manufacturing technology for mass production of end-use, metal parts.
The company's P-50 printer is designed to compete with conventional manufacturing. The Production System is an industrial manufacturing platform powered by Desktop Metal’s Single Pass Jetting technology. It's designed to achieve speeds up to 100 times those of legacy powder bed fusion additive manufacturing technologies.
Desktop Metal aims to accelerate the transformation of manufacturing with its expansive portfolio of 3D printing solutions. The company went public via SPAC in December 2020.
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DM Price Action: Desktop Metal has traded as low as $3.25 and as high as $22.80 over a 52-week period.
The stock was up 10.9% at $4.31 at time of publication.
Photo: courtesy of Desktop Metal.
