Why SmileDirectClub Stock Fell Again on Thursday
Shares of SmileDirectClub (NASDAQ: SDC) headed lower Thursday, adding to the stock's woes after a busted IPO earlier this month. This time, the culprit seemed to be the struggles of fellow debutante Peloton Interactive (NASDAQ: PTON), which stumbled in its first trading day. As a result, SmileDirectClub finished the day down 10.8%, while Peloton gave up 11.2%.
Thursday marked the sixth session in a row that the maker of invisible teeth aligners fell as investors are quickly losing faith in the recent IPO. SmileDirectClub shares opened relatively flat, but began to fall sharply around 11 a.m. along with other recent IPOs as negativity began to build about Peloton, which began trading around noon. Shares of SmileDirectClub continued to slide over the rest of the session.
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Source Fool.com
