3D Systems Higher Off Takeover Chatter
3D Systems Corporation (NYSE: DDD) shares were seen trading higher by $1.40 at $15.86 in Monday's session. The catalyst for the rally is unconfirmed rumors that the company has hired an investment banker after being approached by General Electric Company (NYSE: GE) earlier Monday.
After a flat open, the issue immediately bottomed just under Friday's close ($14.46) at $14.32 and was beginning to inch higher, when the rumors surfaced around 9:40 a.m.
So far, the ensuing rally has taken the issue to $15.96 and is not far off that level as of 11:00 a.m. The issue has not traded in the $16 handle since October 12 when it peaked at $16.72. Also, it has not closed over $16, since the day prior when it ended that session at $16.69.
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