The only wrong thing with this stock is its price because I see value and growth in every metric. I agree with you, the decline is certainly disappointing. But it can be possible attributed to following factors:
1) Bearish trend in the whole 3D sector since beginning 2014, mainly due to poor results, poor strategy from the leaders in the sector (3D Systems, Stratasys) but also from other 3D stocks like voxeljet and ExOne.
2) Arcam ADR stock has low volume compared to Arcam stock in Sweden and certainly compared to other 3d printing stocks. Volatility is higher and its easier to manipulate the price. u$ 20K of volume can easily send the stock +/- 5% in one day.
3) Not much coverage from analysts "yet".
4) Short term investors and traders who don't understand underlying fundamentals of the company and seek short gain.
Anyway, 3D printing is a relatively new sector, only sophisticated investors like us can tell the difference between each company pros and cons and recognize Arcam (and in my case Sigma Labs too) as the needle in the hay. It is a matter of time before GE or other tycoon absorb or close a deal with Arcam. I mean, I can't promise stock price will not go further down (see reasons above) but I firmly believe even at these prices the stock is highly undervalued, I would buy and hold as much as I can. Also, the institutional holdings in Arcam are high, that gives me an extra confidence on the future of the company.
AI
