SmileDirectClub stock rose 15%, while shares Align Technologies fell about 2%.
David Katzman, CEO of SmileDirectClub stands with founders Jordan Katzman and Alex Fenkell as the company debuts its IPO at the Nasdaq MarketSite in New York, September 12, 2019.SmileDirectClub stock rose 15% on Monday after it announced that it will start selling its teeth-straightening products to dentists and orthodontists.
"We have seen increasing demand from the dentists and orthodontists in our network who wish to provide SmileDirectClub clear aligners to their in-office patients, and with our agreement with Align Technology now expired, we are no longer obligated to stay in the direct-to-consumer channel," said SmileDirectClub Co-Founder Alex Fenkell in a press release.