Home Industry Desktop Metal receives warning from NYSE over share price

Desktop Metal receives warning from NYSE over share price

The provider of 3D printing systems Desktop Metal has been warned by the New York Stock Exchange (NYSE). The reason is the company’s share price, which has been below 1 US dollar for some time.

As Desktop Metal confirmed in a press release, there is a threat of exclusion from the prestigious NYSE trading if the share price does not rise above 1 dollar again within six months. A reverse stock split at a ratio of 1:10 or more was mentioned as an option.

Desktop Metal’s competitor Markforged had previously received a similar warning from the NYSE. Desktop Metal had gone public via a SPAC deal in anticipation of rapid growth. The weak share price performance now reflects disillusionment. Nevertheless, Desktop Metal emphasizes that it is interested in remaining on the NYSE.

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