Why SmileDirectClub Stock Is Soaring Today
Shares of SmileDirectClub (NASDAQ: SDC) were soaring 13.5% higher as of 11:42 a.m. EDT on Wednesday. The big jump came after the oral care company announced a new partnership with Anthem (NYSE: ANTM). The large health insurer will provide in-network coverage for SmileDirectClub's clear aligner therapy beginning this month.
It remains to be seen just how much of a boost the Anthem deal will provide to SmileDirectClub. However, the addition of another major health insurer covering its clear aligner products should lead to increased sales for the direct-to-consumer oral care company over time.
Image source: SmileDirectClub.
Source Fool.com