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Benzinga
Benzinga
Business
Adam Eckert

Why Desktop Metal Stock Is Plunging

Desktop Metal

Desktop Metal Inc (NYSE:DM) shares are trading significantly lower Tuesday after the company reported worse-than-expected earnings results and announced a proposed offering.

Desktop Metal said first-quarter revenue increased 286% year-over-year to $43.7 million, which beat the $41.61 million estimate, according to data from Benzinga Pro. The company reported a quarterly loss of 22 cents per share, which missed the estimate for a loss of 13 cents per share.

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