Why SmileDirectClub Shares Tanked 40.4% in November
Shares of SmileDirectClub (NASDAQ: SDC) tanked 40.4% in November, according to data from S&P Global Market Intelligence. The online teeth-straightening company reported very disappointing earnings results last month, which is likely the main reason the stock is down so much since the start of the period.
On Nov. 8, SmileDirectClub reported quarterly results for the three months ending in September. Revenue came in at $138 million, a decrease of 18.3% from 2020. This is not a good sign for a company that is supposed to be in high growth mode. It is also unprofitable, posting an $89 million net loss in the quarter.
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Source Fool.com
