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Velo3D's stock dropped 14% despite an $11.5M defense contract due to market skepticism.
Velo3D shares fell 14% on Tuesday despite announcing an $11.5 million multi-year contract with a major U.S. defense prime contractor to produce high-performance components using its industrial-scale 3D printing technology.
The deal, supporting a national security program, was not enough to sway investor sentiment, as the stock dropped from a session high of $11.86 to $9.59.
The company’s stock has ranged from $1.42 to $23.84 over the past year, reflecting volatility in the defense and advanced manufacturing sectors.
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Las acciones de Velo3D cayeron un 14% a pesar de un contrato de defensa de 11,5 millones de dólares debido al escepticismo del mercado.