Here’s how much it would be worth today to invest $ 1000 in stocks of 3D systems 5 years ago
Investors who have owned stocks since 2016 have generally seen big gains. In fact, the total return of the SPDR S&P 500 (NYSE: SPY) over the past five years is 117.3%. But there is no doubt that some reputable stocks have performed better than others along the way. 3D Systems’s Bumpy Ride: One company that has given investors a boost over the past decade is 3D Systems Corporation (NYSE: DDD). 3D Systems was one of the biggest booms and collapses of the early years of the post-financial crisis bull market. At the start of 2009, the stock was trading below $ 6, but it hit a high of $ 97.28 in early 2014. By the time the start of 2016 rolled around, the stock was trading all the way to. the low at around $ 8.50. During the height of the 3D printer market mania, the Bulls justified absurd market valuations by claiming that 3D printers would ultimately be as common in American homes as microwaves. The slight oversight in this thesis ended up being that no one really needed or wanted 3D printers. Looking back, the idea that 3D printers would follow the same growth trajectory as 2D printers doesn’t make sense. 3D printers are much more expensive and difficult to buy, use and maintain than 2D printers. Shares of 3D Systems fell as low as $ 6 in early 2016 during a large market sell-off amid concerns over slowing growth in China. The stock rebounded from that level and finally hit a multi-year high of $ 23.70 in mid-2017. Over the next three and a half years, 3D Systems shares continued to be extremely volatile, making a series of lower lows along the way. Before the pandemic, the stock hit $ 12.56 at the start of 2020. Related Link: How Much to Invest, 000 in Home Depot Stock 5 Years Ago Would Be Worth Today 3D Systems In 2021, Beyond: 3D Systems shares fell as low as $ 5.20 when the market hit a low in March 2020. However, it was one of the few stocks to hit new lows later that year. 3D Systems shares bottomed at $ 4.60 in the second half of 2020, their lowest point of the past five years. Incredibly, shares of 3D Systems that appeared to be dead in the water exploded in January 2021 when the company announced the sale of its non-core software business and guided for fourth quarter revenue growth that exceeded analysts’ expectations. Momentum traders triggered a short squeeze on the stock that sent it soaring to $ 56.50, its highest point in the past five years. The stock has since returned to around $ 35.01. 3D Systems investors who bought five years ago and were held up were bailed out by the short squeeze. In fact, $ 1,000 in 3D Systems stock bought in 2016 is worth around $ 3,383 today. Looking ahead, analysts are extremely skeptical that 3D Systems will hold on to its gains over the next 12 months. The average price target among the seven analysts covering the stock is $ 22, which suggests a decline of 37.5% from current levels. (Photo: 3D Systems.) Find out more about Benzinga © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.