Shares of Velo3D Inc. (VELO) are heading lower Monday morning. It's a move that coincides with a scheduled change in the executive suite and comes after a period of pretty wild swings for the metal 3D printing stock.

This is happening while the broader market looks poised for a positive open, with Nasdaq futures up 0.55% and S&P 500 futures gaining 0.28%. Remember, the market was closed Friday for Good Friday, so traders are catching up.

A New Financial Captain Takes the Helm

The timing of the stock's drop lines up neatly with James Suva officially stepping into the CFO role on Monday. Velo3D announced his appointment back on March 25, and he's now taking over from Bernard Chung, who had been serving as Acting CFO since December.

Suva is bringing more than two decades of capital markets experience to the company. "We are excited to welcome Jim as our Chief Financial Officer," CEO Arun Jeldi said in a statement. Suva was previously Senior Vice President at Cricut, the crafting company.

Short Sellers Are Doubling Down

While the company is welcoming a new executive, a growing number of traders are betting against it. Recent data shows a sharp increase in short interest—those bearish bets where investors borrow and sell a stock, hoping to buy it back cheaper later.

The number of Velo3D shares sold short jumped from 2.31 million to 3.51 million. That means short sellers now control a hefty 28.64% of the company's publicly available shares, or "float." Based on recent trading volume, it would take those short sellers about 1.77 days to buy back all their borrowed shares if they needed to exit their positions quickly.

Rollercoaster Ride After Solid News

Monday's premarket slide comes right after a Thursday where the stock did the exact opposite, shooting up 23.62%. That volatility is wrapped around some fundamentally positive news from the company.

On March 24, Velo3D reported its fourth-quarter revenue came in at $9.44 million, which beat analyst expectations. The company also recently locked in a $9.8 million multi-year defense contract. Looking ahead, management has laid out a path to profitability, expecting to turn EBITDA positive in the second half of 2026.

As of Monday's premarket session, Velo3D shares were down 9.51% at $10.75, according to market data.