Why SmileDirectClub (SDC) jumped almost 25% today
- SmileDirectClub stock jumped after the company announced that it had been issued a patent from the U.S. Patent and Trademark Office for its SmileShop concept and process.
- The company also said that it expects to begin reopening its SmileShop retail stores in May.
- The patent will prevent any company from copying SmileDirectClub’s SmileShop model for the next 18 years.
- This includes appointment scheduling and confirmation, conducting an intraoral scan at the retail location, creating a treatment plan for using clear aligners, obtaining treatment plan approval from a dental professional, manufacturing the aligners, and shipping the aligners to the customer.
- Opening stores will be no quick process. The company said that it will “slowly reopen” the stores as local governments lift restrictions on business operations. CEO David Katzman said, “We look forward to welcoming customers back to our SmileShops at the earliest and safest possible time.”
SmileDirectClub, LLC designs and manufactures dental equipment. The Company supplies invisible aligners and braces to get straight teeth. SmileDirectClub serves customers in the United States.