|Bid||8.04 x 2200|
|Ask||8.05 x 3100|
|Day's range||7.87 - 8.60|
|52-week range||7.56 - 21.10|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Earnings date||24 Feb 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||18.18|
SmileDirectClub promises profits sooner than most on Wall Street expect. But the stock reacts harshly.
During the previous session ahead of SmileDirectClub's quarterly report, short bets against it climbed to a record high 40,000 shares, equivalent to 57% of the company's float, according to S3 Partners, a financial analytics firm. Traders borrowing SmileDirectClub shares to make new short bets on Wednesday were paying the equivalent of more than a 31% annual interest rate, up from 26% the day before, reflecting a scarcity of additional shares available to short, according the S3 Partners. For 2020, SmileDirectClub forecast sales between $1 billion and $1.10 billion, the mid-point of which was below market estimates, and it reported a wider-than-expected fourth-quarter loss.
The American Dental Association as well as various state dental boards have made an organized attack on SmileDirectClub, Inc. in an effort to protect their turf, but savvy investors should look past Big Dental and focus instead on the orthodontics disruptor’s massive profit potential. That’s according to IPO Edge Editor John Jannarone, who spoke to […]
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
(Bloomberg) -- Bed-in-a-box seller Casper Sleep Inc. raised $100 million in an initial public offering, pricing its shares at the bottom of a reduced range.Casper, which boasted a valuation of $1.1 billion in a private funding round last year, is valued in Wednesday’s IPO at less than half of that.The online retailer sold 8.35 million shares Wednesday for $12 each, according to a statement. The listing gives the company a value of $476 million based on the outstanding shares listed in its filings. Earlier in the day, it cut its price target to $12 to $13 a share, down from $17 to $19.The IPO shows investors have grown skeptical of money-losing unicorns -- startups whose private valuations reached $1 billion or more. The listing follows landmark but largely disappointing performances last year by consumer-oriented companies including Uber Technologies Inc. and its smaller rival Lyft Inc., as well as SmileDirectClub Inc. and Peloton Interactive Inc.Casper priced its shares on the same day as PPD Inc., a biotechnology and drug research services firm that raised $1.62 billion, pricing its shares at the top of its target for the offering. In the past year, such business-to-business firms, especially software makers, have tended to fare better in their IPOs and afterward than consumer-focused companies.Marketing, CompetitorsNew York-based Casper, founded in 2014, became one of the leading brands thanks to its pioneering status in the niche and savvy marketing. Since then, a slew of competitors have emerged in the U.S. and abroad. From 2016 to September 2019, Casper spent $422.8 million on marketing, according to an earlier filing.Casper had 60 stores in the U.S. and Canada as of Sept. 30. Its sales increased to $312 million for the nine months ended Sept. 30, a 20% gain from the same period in 2018. Its net loss widened to $67 million from $64 million during the same period in 2018.The company’s backers include Target Corp. and Dani Reiss, the chief executive officer of Canada Goose Holdings Inc.The offering was led by Morgan Stanley, Goldman Sachs Group Inc. and Jefferies Financial Group Inc. The company’s shares are expected to begin trading Thursday on the New York Stock Exchange under the symbol CSPR.(Updates with statement in third paragraph)To contact the reporter on this story: Liana Baker in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Elizabeth Fournier at email@example.com, Michael Hytha, Matthew MonksFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Investors betting against SmileDirectClub Inc. should tread lightly over the coming weeks as the maker of teeth-straightening products is a “prime candidate for a short squeeze,” according to analysis from S3 Partners.As bears continue to pile in despite shares staging a comeback to start the year, losses so far have “more than wiped out 2019 gains and put short sellers solidly in the red,” the report from Ihor Dusaniwsky said. The combination of a rocky start for shorts paired with rising borrow rates indicates short covering could pick up steam ahead of earnings due next month, he continued.The company has climbed 50% so far in 2020 as its market value again topped $5 billion on Wednesday, though still down from a September peak of $7.5 billion. Short interest has continued to hit record high after record high, with roughly half of shares available for trading currently sold short, according to data compiled by financial analytics firm S3 Partners.With earnings not expected until the end of next month, quarterly results from competitor Align Technology Inc. will serve as the next catalyst for shares of SmileDirectClub. Align Technology, the maker of the Invisalign teeth-straightener, is set to unveil fourth-quarter results after the U.S. market close.To contact the reporter on this story: Bailey Lipschultz in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Catherine Larkin at email@example.com, Jennifer Bissell-LinskFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Signet Jewelers, Urban Outfitters, Smile Direct and Align Technology highlighted as Zacks Bull and Bear of the Day
Shares of Align, which manufactured clear aligners for SmileDirectClub, were down 3.9% at $286.47. SmileDirectClub, which sold its aligners online after virtual consultations using 3D imaging technology, said it was no longer obligated to stick to the direct-to-consumer channel as agreed with Align, which also makes clear aligners called Invisalign.
DraftKings CEO Jason Robins tells Yahoo Finance's On the Move why the company is going public despite not being profitable
SmileDirectClub did all it could in the third quarter to get investors excited post IPO. Yahoo Finance speaks with SmileDirectClub CFO Kyle Wailes.