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Why SmileDirectClub Inc. (SDC) stock performed well on Monday?

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SmileDirectClub Inc. (SDC) shares surged 6.02% in after-hours on Monday, September 13, 2021, and closed the daily trading at $6.34. In the regular trading session of Monday, SDC’s stock gained 16.12%. The stock volume remained 48.16 million shares, which was higher than the average daily volume of 8.09 million shares within the past 50 days. SDC shares have fallen 44.22% over the last 12 months, and they have moved up 5.65% in the past week. Over the past three months, the stock has lost 37.25%, while over the past six months, it has declined 48.54%.

SDC donation for Afghan refugees

On September 13, 2021, SmileDirectClub (SDC) announced an ongoing partnership with global humanitarian aid and relief organization, the International Rescue Committee (IRC), to provide oral hygiene essentials including the brand’s toothbrushes and toothpaste to Afghan refugees in the United States.

SDC recent financial results announcement

On August 09, 2021, SmileDirectClub, Inc. (SDC) announced its financial results for the second quarter ended June 30, 2021.

Q2 2021 financial highlights

  • SDC reported total revenue of $174 million in Q2 2021 compared to $107 million in Q2 2020.
  • The cost of revenue was $45.86 million in Q2 2021 compared to $48.77 in Q2 2020.
  • General and administrative expenses were $85.02 million compared to $68.7 million inQ2 2020.
  • It suffered a net loss of $55 million in Q2 2021 compared to $94.67 million in Q2 2020.
  • In Q2 2021, diluted earnings per share were $0.14 compared to $0.25 in Q2 2020.
  • Adjusted EBITDA was $22 million in Q2 2021 compared to $20.2 million in Q2 2020.

SDC reaction on manufacturing facility incident

On August 03, 2021, following a shooting incident this morning at SmileDirectClub’s Antioch, Tenn. manufacturing facility in which an active Team Member entered the facility, shot two security guards and another Team Member, and was later apprehended by Metro Nashville Police, SmileDirectClub (SDC) is shocked and deeply saddened by the tragic incident that took place at our manufacturing facility this morning. We are grateful for the swift actions taken by our Team Members, security personnel, and Metro Nashville Police in responding to, and quickly containing the situation. We would also like to thank our corporate partners, the local community and local legislators for their outpouring of support.

Another favourable ruling for SDC

On July 29, 2021, SmileDirectClub, Inc. (SDC) announced that the U.S. Court of Appeals for the 11th Circuit again sided with the company, rejecting the Alabama Board of Dentistry’s attempt to shield itself from antitrust liability through an interlocutory appeal.

Susan Greenspon Rammelt, SmileDirectClub’s Chief Legal Officer and EVP of Business Affairs said that SmileDirectClub is pleased with the Appellate Court’s decision and we are grateful for the amicus support of the FTC and DOJ in this matter.

Conclusion

Well. As of this writing, we have no such news which could be the reason behind its exceptional performance on Monday. We are not sure how it will perform in the coming trading sessions.

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