the ipo XONE is a factor too. looks like a good company well known in the buz already selling product to ge and gm and others there metal products sound like there better than ddd and ssys there machines are fast and costs are cheap has to take a slice away from ddd and ssys money pie . you have to ask how many other private companys will go public soon
I will tell you personally why I think it crashed. As I am a shorter.. even though i am a big believer in 3d print tech in the future.
First the tinder...
These 3d stocks are trading at extremely high p/e multiples 5-10 times higher than the rest of the market. That is justified in an emerging tech. But i really do not think 3d printing is growing all that much faster than many other sectors of the economy trading at much lower valuations. Take for instance robotics. Robotics stocks are plentiful at 10 pe multiples ,and are seeing incredible growth even higher than 3d printing at the time.
When I saw this morning on the tv of a big news channel a guy hawking these stocks, i had never heard of them before. When I was listing to what he was saying, even though he was bullish, I didn't like what I was hearing at all, since I am well antiquated with 3d printers. Even though he was bullish he was talking g about the extreme calculations. So I decided to check it out for myself. Now i like these stocks and wanted to buy some, but when I saw the absolutely ridiculous price I almost feinted.
Now since I cannot take that kind of risk, I thought.. here is what i will do, I will buy more robotics and robotics manufacturing stocks, and I will hedge that risk by shorting overvalued 3d printing. And when the market opened this just plummeted. I am guessing.. imo... that the tv coverage brought these stocks to the attention of a lot of savy investors who were looking for a hedge of other high growth stocks. That is all imp. I am just using this as hedge to cover my risky positions in other high growth companies.
If I know anything about market psychology once they are piled on they won;t get off all at once, infact I will bet others are piling on or getting ready to as we speak. Personally if I owned this stock I would sell it off and try to cover ~30% lower. It's a nice stock, it just got too expensive too fast I think.
However if you do not like trading or have been a long term shareholder of the company, you may just feel comfortable waiting it out.
This is a very nice hedge for me considering other robotics stocks I own have analyst forecasting equal or even greater growth, at a much cheaper multiple.
DOW reach RSI closer to 95% means any time crash going to come.When the RSI was closer to 95% was year 2000. Then DOW crash to 7800 level. Now RSI reach above 95% there is another crash come come any time. Nasdaq clser to 7 year high and Ruessel 900 is all time high. There is fundamental wrong with the market. Today or tomorrowit will happen just watch sell alert