Shares of SmileDirectClub (NASDAQ: SDC) surged higher on Tuesday, soaring as much as 25.1%. 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 announcement comes a little more than two months after SmileDirectClub lowered its guidance for the fourth quarter and 2021 overall, as the result of a disappointing third quarter.
SmileDirectClub (NASDAQ:SDC) stock is soaring higher on Tuesday as investors celebrate a new strategic plan from the company. Source: Helen89 / Shutterstock.com According to the company, these plans include expanding its SmileDirectClub Partner Network. This will have it focusing on improving its aligner products to reach a new market, enhancing its oral care product business, as well as putting SmileShop locations in areas with strong demand. To go along with this, the company also announced it