I have been riding this for about 10 years. I am very sorry I did not sell all of it 2 years ago when it touched $25 and then rebuy over the past few months.
I continue to be amazed they are not more successful and I do not have a good understanding as to why? I have the impression they seem to be regularly having to get their act put back together. By that I am thinking about the change they made in how they market their products a few years ago and the comments that appeared in their press releases recently.
They have a great product. The industry niche is intensely competitive. It seems that a lot of smart people are convinced that they can take the idea 3D pioneered and find a more clever way to do it. In my view the risk is that it could become somewhat like computer retail, that there are so many people turned on by the technology that the competition drives the margins down.
They had been at a competitive disadvantage in that their equipment was relatively high price (and high quality!) and their plastic medium apparently lacked some working characteristics that at least some of the users wanted. Both of those issues have been addressed by recent product introductions.
I sold about a third of my holding over the past 6 months, reluctantly because I had to raise some money. If I had the cash I would be a buyer now as it is selling close to Book Value and I believe it is and will continue to be the class act in this market. If I need to raise cash any time soon I will NOT be selling 3D at these levels! One note of caution, if you buy this looking for a quick turn you are likely to be disappointed. It does turn quickly but not predictably so!
Since I said I would not sell I think it only fair to post that I changed my mind when it snapped back a little. It is not that I love 3D less but that I think other opportunities are going to move a lot better before 3D starts improving. I do not see any significant movement in 3D share price until they post some earnings and show good reason to believe earnings will grow from there.
In the meantime I used the proceeds to buy Seven Seas Petroleum (SEV on AMEX), Parkcrest Exploration (PKC on Alberta) and US Technologies (USXX). SEV and PKC are both plays on oil exploration in Colombia. I have owned Harken (HEC) for quite some time and added to it over the years. One other "active" play at present is Racom (RCOM) a smart card IPO.
You've got to do what you feel is right especially if you've got a better place for the money. However, I'm holding until earnings or I should say sales numbers are reported for the Last quarter. SSYS reported today and they were flat. TDSC hinted at record sales which would indicate gain in market share. I can't believe that SSYS went up 15/16 on this poor report. I must be missing something. Anyway TDSC is selling at just over book value so down side potential should be minimal. Market cap is less than sales at about $70MM compared to SSYS with a cap of $60MM and sales of $30MM. Next week should tell the story.