SmileDirectClub (SDC) has been enjoying a good 2020. The stock price is up 85% year-to-date. New oral care products are entering 3,800 Walmart stores amid a new exclusive deal.
Then came NBC News.
The news organization released an investigative report on Thursday night looking at customer complaints from using SmileDirectClub’s clear aligners. Shares of SmileDirectClub fell 3% in pre-market trading Friday, as investors worry over how the report will shape customer perception of the upstart teledentistry brand.
SmileDirectClub responded to the NBC News report via a statement to Yahoo Finance:
“We are disappointed that though we provided NBC with the opportunity to obtain all relevant facts as to the safety and efficacy of teledentistry for the provision of clear aligner therapy, NBC failed to provide its viewers with a balanced and fair news story reflecting those facts. The piece misrepresents SmileDirectClub and the quality of care provided by the over 250 state-licensed dentists and orthodontists across the country who use our platform to treat their patients.