3D printing has been gaining a lot of traction in recent years. It has the potential to transform manufacturing. The COVID pandemic may speed up the transition from older manufacturing frameworks to new technologies like robots and 3D printing. Investors looking to participate in this trend may want to consider buying the best 3D printing stocks 2020.
HP Inc – A possibility of one of the best 3D printing stocks 2020
You may recognize HP as a company that makes printers and desktop computers. HP has a long history of making home and office printers. It, however, also has a 3D printer product line. The company has leveraged its printing expertise in the area of 3D printing for mainstream manufacturing. In 2017, the company had unveiled its state-of-the-art 3D printing laboratory that helps enterprises test, develop, and deliver new generation materials and applications for 3D printing. HP also has an important 3D printing facility in Guangdong, China. Since China is the global hub for manufacturing, it made sense for HP to have a presence in the country.
Recently, HP also showcased a new study at its global innovation summit that talks about technologies and trends in the area of industrial 3D printing. HP surveyed thousands of manufacturing executives around the world as part of the study. It found that companies are increasing investments towards 3D printing solutions. HP is placing itself to capture this increased spending.
Financial performance of the 3D printing stocks
HP Inc (HPQ) stock has gained 5.62% over the past month. It closed at $19.37 on 20th October 2020. The stock has risen by almost 48% since the March market crash. Over a 5-year period, the stock is up 47%. Proto Labs Inc is another top 3D printing company. Its stock is up 1.78% for the past month and up a staggering 111% since the March market crash. The stock has gained 121% over the past 5 years.