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.

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Source Fool.com