Why SmileDirectClub Stock Is Sinking Today
What happened
Shares of SmileDirectClub(NASDAQ:SDC) were sinking 14.8% lower as of 11:21 a.m. EDT on Thursday. The decline came after the teledentistry company announced mixed second-quarter results following the market close on Wednesday.
So what
The COVID-19 pandemic hit SmileDirectClub hard in Q2. The company reported a 45% year-over-year revenue decline. Its net loss in the second quarter of $95 million was much worse than the $32.4 million loss in the prior-year period.
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