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Why Shapeways Stock Just Slumped

Why Shapeways Stock Just Slumped

Shares of recent SPAC IPO and 3D printing design library Shapeways (NYSE: SHPW) are getting sold off by more than 12% Thursday (down 12.2% as of 2:45 p.m. EDT). Curiously, the reason the shares are getting sold is...because Shapeways is selling shares. In a Securities and Exchange Commission (SEC) filing last night, Shapeways registered some 35.5 million shares for sale, and 4.1 million warrants besides, in connection with its Sept. 29 reverse merger into special-purpose acquisition company (SPAC) Galileo Acquisition and consequent de facto IPO.