SDC - Why SmileDirectClub Plummeted by 21% on Tuesday
Tuesday was like a bad visit to the orthodontist for SmileDirectClub (NASDAQ: SDC) . The teeth alignment specialist unveiled its latest set of quarterly figures, and investors found the numbers to be downright ugly. They punished the company by driving its stock price down by almost 21% on the day.
While not every number in SmileDirectClub's Q3 report was discouraging, the most notable line items were not impressive. Revenue was down 18% year over year to $138 million. Its net loss deepened considerably, landing at $89.4 million ($0.23 per share) against Q3 2020's loss of $43.5 million.
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Why SmileDirectClub Plummeted by 21% on Tuesday