Shares of Velo3D, Inc. (VELO) are moving down about 14 percent on Tuesday morning trading after the announcement of a $11.5 million contract from a key U.S. defense contractor.
The company's shares are currently trading at $9.59 on the Nasdaq, down 14.06 percent. The stock opened at $9.71 and has climbed as high as $11.86 so far in today's session. Over the past year, it has traded in a range of $1.42 to $23.84.
The contract leverages Velo3D's Rapid Production Solution and industrial-scale Laser Powder Bed Fusion printing capability to produce high-performance, critical components quickly and at a lower cost.
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