Why voxeljet AG (VJET) Stock Is Plummeting Today

NEW YORK (TheStreet) -- voxeljet AG (VJET) shares are down -14.9% to $20.72.

The drop comes following the company's announcement of a secondary stock offering.

The 3-D printing company plans to sell 4 million American Depository Shares for proceeds of $70 million. Three million shares will be sold by voxeljet, while the other 1 million will be sold by selling shareholders.

voxeljet shares are down 38.3% this year, joining other 3-D printing companies affected by the sector wide sell off that has occurred this year.

The company's stock reached a high of $68.37 November 28 before enduring the precipitous downturn it is currently experiencing.

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