SDC - Why SmileDirectClub Tanked by 24% on Tuesday
SmileDirectClub (NASDAQ: SDC) was anything but happy on Tuesday. A disappointing earnings report wiped the grins off investor faces, with the stock price cratering by slightly over 24% on the day.
For its second quarter, the results of which were published Monday after market hours, SmileDirectClub booked $174 million in revenue, which was nearly 63% higher compared with the same period last year. It also managed to trim its bottom-line generally accepted accounting principles ( GAAP ) loss; it was just shy of $16.9 million, or $0.14 per share, against Q2 2020's $26.8 million shortfall.
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Why SmileDirectClub Tanked by 24% on Tuesday