Technology
Stock Falls After 3D Printer Developer Camtek Clarifies Product Plans
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Source: Thinkstock
The rise was due to the company’s mention during its conference call that it would be introducing a 3D printer for the printed circuit board (PCB) market next year. The decline was due to a clarification of the company’s plans that was issued Tuesday afternoon as a result of the volume spike in Camtek’s shares.
The Israel-based firm offered this clarification:
[Camtek] is now in the advanced stages of the development of the GreenJet, a digital 3D printing system used for the deposition of solder mask designated for the printed circuit board industry (the “GreenJet System”). The first installation of the GreenJet System for evaluation in a customer’s manufacturing environment is expected to take place in the beginning of 2014 and, subject to the results, the Company expects the first commercial sales of the GreenJet System to take place during 2014.
The company also said that it would stop development on a sample-preparation product for the semiconductor industry and “focus its activity in the field of digital 3D printing for the printed circuit board industry, including the GreenJet System.”
On Monday and Tuesday of this week, Camtek’s share volume reached about 24 million shares each day and more than 5 million shares have traded hands by the mid-afternoon on Wednesday. That number would probably be larger were it not for traders getting an early start on the Thanksgiving holiday.
Profits from Camtek’s GreenJet system appear to be at least six months to a year away. Many investors who bought the stock earlier this week are taking profits rather than waiting. It’s pretty likely that another opportunity to get the stock cheaply will turn up.
Camtek’s shares are trading down about 11.5% at $4.16 in a 52-week range of $1.31 to $6.43.
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