SDC - Why Investors Were Smiling About SmileDirectClub Today
2023-07-05 18:03:00 ET
SmileDirectClub (NASDAQ: SDC) dodged a regulatory fastball aimed at its head Wednesday, and investors rewarded the company for it. The company's share price zoomed nearly 15% higher on the day, crushing the slightly (0.2%) downward performance of the S&P 500 index.
In a regulatory document filed with the Securities and Exchange Commission (SEC), SmileDirectClub revealed that Nasdaq has granted the company's request to continue listing its stock on that exchange. It had faced delisting by the popular market operator due to its non-compliance with the Nasdaq's requirements. It received this notification last Thursday, June 29.
Among other statutes, the exchange requires its stocks to sustain a $1.00 per-share minimum bid price.
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Why Investors Were Smiling About SmileDirectClub Today