Investment Thesis
In the first half of the year, the pandemic stifled the top-line growth of Align Technology, Inc. (ALGN) as virus fears and social restrictions kept patients away from dental clinics. The heavy reliance on doctor visits to generate sales has forced the company to adopt a digitally-focused operating model, though its benefits will take time to accrue. The virus fears continue to hold back cash-strapped patients from visiting the dental offices to seek treatments, and thanks to their virtual model, Align’s low-cost rivals are at an advantage as the pandemic-driven recession