Benzinga | Sep 13, 2021 04:13PM EDT

Why SmileDirectClub Shares Surged Higher Today

SmileDirectClub Inc (NASDAQ:SDC) is trading higher on abnormally high volume during Monday's session as traders on social media circulate the stock, highlighting its high short interest.

The average session volume is about 6.5 million. The daily trading volume for Monday's session was over 42 million.

SmileDirectClub was one of the top three trending stocks on Stocktwits at publication time.

The percentage of the float sold short is about 33%, according to data from Benzinga Pro.

SmileDirectClub is engaged in the orthodontics business. It is mainly involved in the sale of aligners, impression kits, whitening gel and retainers.

SDC Price Action: SmileDirectClub has traded as high as $16.07 and as low as $4.63 over a 52-week period.

The stock closed up 16.12% at $5.98 on Monday.

Photo: courtesy of SmileDirectClub.