Why SmileDirectClub Shares Are Soaring Today
Shares of SmileDirectClub (NASDAQ: SDC) were soaring 14.9% higher as of 10:57 a.m. EST on Tuesday. The big jump came after the company announced plans to sell clear aligners to dentists and orthodontists, a move that should boost sales.
Today's announcement from SmileDirectClub was a clear shot over the bow of Align Technology (NASDAQ: ALGN), the leader in the clear aligner market. SmileDirectClub and Align were partners in the past, but SmileDirectClub's exclusive supply agreement with Align expired at the end of 2019, along with a non-compete clause that restricted SmileDirectClub to selling clear aligners only to consumers.
Image source: Getty Images.
Source Fool.com
