Pretty good?!?! You have GOT to be kidding me! XONE grew PSC sales SIX PERCENT (!!!) y/y. (If you listen to management, PSC sales are supposed to drive printer sales. Whoops!) They REDUCED their full-year revenue guidance!!! Stocks trading at 20x ev/sales and infinity times earnings should be blowing out numbers. Even if you believe 3D printing is the way of the future, XONE's business model generates virtually no earnings power.
Anyone with rudimentary financial analysis skills recognizes this stock is way, way, way over its skis. The only thing holding this stock up is the high short interest (38% of the float), high borrow cost (it currently costs 50% per year to borrow XONE shares), and high retail interest (reducing borrowable shares and borrow cost).
I know you're right but the thing that kills me is that I wouldn't be at all surprised to see this stock bounce right back up. I've been scratching my head the whole time that this stock has exceeded $30. Even then I thought it was way overvalued and would retrace back to it's IPO price; then I might buy some long shares. At $50-$60 or $70. Heck no! (with conviction) These guys need to be earning at least $2.00 a share before this company is worth $1B market cap. They are at -$.08. I am all for looking at the forward earnings to determine value but that is a long ways away!
If I was to get into 3D printing about the only company that I would consider is Arcam. Even that is starting to get ahead of itself. 3D... Can you say bubble? Maybe XONE taking a big hit will put a reality check into people's thinking.