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Why Did Shares of Stratasys Rise on June 30?

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Dec. 4 2020, Updated 10:52 a.m. ET

Price movement of Stratasys

US-based (SPY) technology (XLK) company Stratasys (SSYS) has a market capitalization of $1.1 billion. It rose by 4.9% to close at $22.89 per share on June 30, 2016. The stock’s weekly, monthly, and trailing-12-month price movements were -1.6%, 0.3%, and -34.5%, respectively, on the day.

Stratasys is trading 3.7% above its 20-day moving average, 1.9% above its 50-day moving average, and 0.9% above its 100-day moving average.

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Related ETFs and peers

The iShares Russel 3000 ETF (IWV) invests 0.1% of its holdings in SSYS. The market capitalizations of Stratasys’ competitors are as follows:

  • Hewlett-Packard (HPQ): $22.2 billion
  • 3D Systems (DDD): $1.6 billion

Stratasys ties up with European singer

Yesterday, 3D printing company Stratasys announced a 3D printer mask. The company collaborated with renowned designer Neri Oxman to design the mask for Iceland-based singer Björk. It was unveiled earlier this week in Tokyo (EWJ).

According to Businesswire, “Inspired by Björk’s most recent album, ‘Vulnicura’, Oxman and her team used 3D scans of Björk’s face to create digital interpretations of her bone and tissue structure, with the customized design brought to life with Stratasys’ unique full-color, multi-material 3D printing technology.”

A few days ago, Stratasys also announced that it was collaborating with a division of car manufacturing giant Toyota. Stratasys’s revenue will be majorly affected if it starts mass customization for Toyota.

According to the 3D printing industry, the 3D printing market is expected to reach $30.2 billion by 2022, growing at a CAGR (compound annual growth rate) of 28.5% between 2016 and 2022.

3D printing is now used in multiple industries, including automotive, defense, and aerospace. Companies use 3D printing technology to develop prototypes as well as end products.

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