SmileDirectClub (SDC) Brings Smile To Investors, Stock Jumps Over 20%

(RTTNews) - Shares of SmileDirectClub Inc. (SDC), a teledentistry technology company, jumped more than 20% on Monday after the Company announced the launch of a new line of oral care products that will be available exclusively at more than 3,800 Walmart U.S. stores and Walmart.com.

Electric toothbrush ($24.98), bright on premium teeth whitening kit ($39.98), Toothpaste - whitening and sensitivity varieties, Water flosser and smile spa are the products that have been made available by the Company at Walmart/Walmart.com.

In addition, the Company introduced two additional items that will be available only at SmileDirectClub.com - Club edition electric toothbrush ($29) and Electric toothbrush replacement head subscription ($5/refill).

After a disappointing share price performance in 2019 - ending the year down nearly 48% - the stock seems to be picking up momentum.

The Company went public on the Nasdaq Global Select Market on September 12, 2019, offering its shares at a price of $23 each. However, the stock opened the first day of trading at $20.59 and closed at $16.67, both well below its IPO price.

SmileDirectClub's first earnings report as a public company was released last November, and it was for the third quarter ended September 30, 2019.

The total revenue for the third quarter of 2019 increased to $180.2 million from $119.6 million in the year-ago quarter.

For the fiscal year 2019, the revenues are expected to be in the range of $750.0 million to $755.0 million, representing growth of 78% year-over-year at the mid-point of the range.

The Company's IPO lock-up period expires on March 10, 2020.

SDC has thus hit a low of $7.56 and a high of $21.10. The stock closed Monday's (Jan.6, 2020) trading at $10.19, up 21.60%.