Three-dimensional printer stocks kicked off the week with fresh gains on Monday. Shares of 3D Systems surged 8.7% to a high of $76.38 for the day, while rival Stratasys gained nearly 7% to reach a daily high of $127.26. The upswing comes on the heels of a pivotal product launch for 3D Systems.
On Friday, 3D Systems introduced the first 3-D scanner designed for consumers. At an entry-level price of just $399, the new 3D Systems Sense 3D scanner aims to be a game=changer not only for 3D Systems, but also for the 3-D printing industry at large. You see, until now 3-D printing technology was used primarily for industrial manufacturing because of the high cost of the technology.
However, 3D Systems' new affordably priced Sense scanner could be the stepping stone to wider adoption. The product is a direct competitor to Stratasys' Digitizer scanner, which sells for $1,400 today. Ultimately, if this technology can be sold to the average consumer, it would be a boon to 3-D printer stocks. Shares of 3D Systems are up more than 97% year to date, compared with a 48% climb for shares of Stratasys.
The article Why 3-D Printer Stocks Popped Today originally appeared on Fool.com.Fool contributor Tamara Rutter has no position in any stocks mentioned. The Motley Fool recommends and owns shares of 3D Systems and Stratasys and has options on 3D Systems. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.