Why SmileDirectClub Stock Lost 38% in March
Shares of SmileDirectClub (NASDAQ: SDC) were heading lower last month as the teledentistry specialist got swept up in the coronavirus-driven sell-off. SmileDirectClub came in to the month falling sharply on weak fourth-quarter earnings, and the negativity around the spreading pandemic seemed to push the stock down further.
As a teledentistry provider, SmileDirectClub may seem poised in some ways to thrive during a period of social distancing, but the company does have some brick-and-mortar storefronts and still relies on dentists to a degree. Additionally, its procedures are generally elective, and customers may be holding back on spending on dental aligners at a time of economic uncertainty.
According to data from S&P Global Market Intelligence, the stock finished the month down 38%. As you can see from the chart below, shares were highly volatile during the month.
Source Fool.com
