Benzinga | Jan 24, 2022 05:13PM EST

Why SmileDirectClub Stock Is Trading Higher

Shares of SmileDirectClub Inc. (NASDAQ:SDC) spiked higher after hours following the announcement of a series of strategic actions to improve business performance, future growth, and cost structure to better support growth initiatives.

The company's profitability initiatives are centered around taking specific actions that will focus efforts on producing the highest return on investment. CEO David Katzman highlights that, "these changes are the right thing to do at this time for our business so that we may continue to innovate and lead the industry to a better oral care solution for all."

SmileDirectClub Inc. is engaged in the orthodontics business. It is mainly involved in the sale of aligners, impression kits, whitening gel, and retainers. The company monitors the completion and success of treatment through its teledentistry platform.

At the time of publication, shares of SmileDirectClub were trading 13.1% higher post-market close at $2.25. The stock has a 52-week low of $1.76 and a 52-week high of $16.08.