Why Are Shares Of 3D Systems Up?

Shares of 3D Systems DDD are moving higher after the company announced that its iSense 3D scanner is available for pre-order.

The spike higher in share price caught many investors off guard because the product was previously announced in January at the Consumer Electronics Show.

Compatible with the iPad, the iSense 3D scanner allows people to print images they take in three dimensions. The big change in technology is that users do not have to put the object in a box -- they attach the iSense to an iPad and walk around the object. According to the press release, 3D system’s product can operate with objects as small as a shoe or as large as a car.

Related: Chinese Conference May Be Moving 3D Printing Stocks Higher

Shares of 3D Systems are up 3.46 to $57.37. Since initially announced on January 7, shares of the company are down almost 40 percent.

3D printing stocks typically move closely together, however that is not the case at the moment.

Stratasys SSYS shares are down 0.28 percent.

ExOne XONE shares are down 0.37 percent.

Voxeljet VJET shares are up 1.65 percent.