On hump day, an underperforming industrial stock suddenly came alive. 3D Systems‘ (NYSE: DDD) share price raced nearly 23% higher on Wednesday following news that it had signed a new contract with a branch of the U.S. military. That increase absolutely left the S&P 500 index, with its 0.2% gain on the day, in the dust.
Just after the market close on Tuesday, 3D Systems announced that it had been awarded a contract by the Air Force to supply it with a large-format metal 3D printer advanced technology demonstrator. The contract is the latest phase in a program the company has been involved in since 2023 that is aimed at developing next-generation 3D printing capabilities for the Air Force.
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