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Velo3D Inc (NASDAQ:VELO) shares are trading lower on Friday. The move follows a volatile week for the 3D printing technology firm. The company is set to report earnings on Tuesday.
Market Downturn Pressures VELO
Macroeconomic factors are weighing heavily on the stock as the Nasdaq fell 1.09% during Friday’s session. Similarly, the S&P 500 shed 1.06%.
Recent Debt Conversion Impact
The slide follows a pullback that began Thursday. Shares are giving back gains from a recent rally. That rally was driven by insider debt conversions. CEO Arun Jeldi, on March 11, converted $5 million in debt at $16.38 per share. Director Ken Thieneman converted $10 million at …
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