Longbow Research Analyst On DDD Buyout Rumors: Lack Of Stock Movement In Response To Rumors Shows Market Doesn't Believe It

Speaking to Benzinga, Longbow Research Analyst Joe Wittine said he couldn’t peg 3D Systems Corporation DDD as being more or less interested in a buyout than any other company.

Earlier today, rumors surfaced that both International Business Machines Corp. IBM and General Electric Company GE were interested in a takeover of 3D Systems.

“Keep in mind that 35 or 40 percent of 3D’s float is short,” he said, adding that the stock’s lack of movement on the buyout rumors suggests that the market doesn’t believe it.

Wittine also mentioned that he hasn’t been able to meet with 3D’s management yet, so he has no specific insight into the rumor.

Shares of 3D spiked higher earlier in the day, but are now trading up $1.36 percent in the trading session. IBM is also trading about 0.42 percent higher today, while IBM is down 1.56 percent.