Why SmileDirectClub Stock Exploded Higher on Tuesday
Shares of SmileDirectClub (NASDAQ: SDC) surged higher on Tuesday, soaring as much as 25.1%. As of 2:50 p.m. ET, the stock was still up 24.6%.
The catalyst that drove the oral healthcare company higher was a strategic shift to cut costs and focus on its most profitable markets.
SmileDirectClub announced that it was taking a number of "strategic actions" to position the company for future growth while improving its business performance. The steps will include job cuts and the exit of certain international markets.
Source Fool.com
