Why SmileDirectClub Stock Is Soaring Today

Shares of SmileDirectClub (NASDAQ: SDC) were jumping 17.1% higher as of 11:48 a.m. EDT on Tuesday. The big gain came after the company announced that it had been issued a patent from the U.S. Patent and Trademark Office for its SmileShop concept and process. SmileDirectClub also said that it expects to begin reopening its SmileShop retail stores in May.

The company's new patent should prevent any rival from copying SmileDirectClub's SmileShop model for the next 18 years. This model includes appointment scheduling and confirmation, conducting an intraoral scan at the retail location, creating a treatment plan for using clear aligners, obtaining treatment plan approval from a dental professional, manufacturing the aligners, and shipping the aligners to the customer.

Image source: SmileDirectClub.

Source Fool.com