Bulletin
Investor Alert

Market Pulse Archives

Sept. 12, 2019, 12:01 p.m. EDT

SmileDirectClub's stock opens with a thud

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    SmileDirectClub Inc. (SDC)
  • X
    Renaissance IPO ETF (IPO)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Shares of SmileDirectClub Inc. /zigman2/quotes/214109287/composite SDC +11.44% didn't get off to a great start Thursday, as the teeth-straightening company's stock opened 10.7% below the $23 IPO price. The first trade was at $20.55 at 11:58 a.m. Eastern for 8.5 million shares. The stock has fallen further since, and was recently trading 15% below the IPO price. The decline was likely a surprise to the company and investors, as the IPO priced above the expected range of $19 to $22. The company has recorded a net loss of $52.9 million on revenue of $373.5 million in the six months ended June 30, compared with the losses of $32.8 million on revenue of $145.95 million in the same period a year ago. The company went public at a time that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO 0.00% has slipped 1.0% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.06% has gained 4.7%.

Read the full story:
SmileDirectClub went public: 5 things to know about the teeth-straightening startup

/zigman2/quotes/214109287/composite
US : U.S.: Nasdaq
$ 8.96
+0.92 +11.44%
Volume: 10.11M
Nov. 19, 2019 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$826.57 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 30.35
0.00 0.00%
Volume: 10,649
Nov. 19, 2019 4:10p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,120.18
-1.85 -0.06%
Volume: 1.92B
Nov. 19, 2019 5:10p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.