Company Performance: Xometry's financial health, including revenue growth, profitability, and debt levels, significantly impacts its stock price. Strong earnings reports typically lead to price increases, while losses can cause declines.

Industry Trends: The overall health and growth prospects of the manufacturing and industrial sectors, particularly the on-demand manufacturing space, influence investor sentiment towards Xometry. Positive trends can boost the stock, while negative ones can hinder it.

Market Sentiment: General market conditions, such as bull or bear markets, economic indicators like GDP growth and inflation, and investor confidence, play a role in determining the overall demand for stocks, including Xometry's.

Competition: The competitive landscape, including the presence and performance of rival companies like Protolabs and Fathom Digital Manufacturing, can affect Xometry's market share and profitability, thus impacting its stock price.

Technological Advancements: Innovations in manufacturing technologies, such as 3D printing, CNC machining, and robotics, and Xometry's ability to adapt and integrate these technologies into its platform, influence investor perception of its long-term growth potential.

Regulatory Environment: Government regulations related to manufacturing, trade, and data privacy can impact Xometry's operations and profitability, thereby affecting its stock price.

Management Decisions: Strategic decisions made by Xometry's management team, such as acquisitions, expansions, and product development, can influence investor confidence and the company's future prospects.

Investor Perception: Analyst ratings, media coverage, and general investor sentiment towards Xometry can drive short-term fluctuations in its stock price, regardless of its underlying fundamentals.