Shares of the 3D printing company have dropped almost 90% since 2014.
The CEO of 3D Systems, a high-profile 3D printing company fighting to turn industry hoopla has stepped down, the firm said on Thursday.
Reichental’s departure came after a big decline in the firm’s share price . Since reaching a high of $97.25 in 2014, its stock has fallen almost 90%.
In mid day trading on Thursday, 3D Systems’ shares had dropped 5% to $10.30.
3D print has quickly expanded into businesses like production, medicine, and cooking. But questions remain one of three sectors, about the market viability of consumer 3D print that 3D Systems has targeted as well as professional and industrial grade printing.
“They’re not going into dwellings, the president of consulting firm Wohlers Associates, ” Terry Wohlers, told Fortune in September.
To put it differently, 3D printing as something which could reach the lives of millions appears to have been overhyped. The effects are being felt competing MakerBot, which has laid off over 100 employees over the last seven months, but also by some companies which have been in the vanguard of developing 3D printing technology, not just 3D Systems.