Recent IPO SmileDirectClub (SDC -10.6%) has completed a round trip from a brief rally at the end of last week. Shares are now down almost 50% from its $23 offering price on concerns with corporate governance (appearance of self-dealing by Chairman & CEO David Katzman) and the safety and legitimacy of its teledentistry platform.
Analysts at IPO underwriters have been vocal
cheerleaders with a bolus of recent Buy ratings in an effort to stem the
selling, a futile effort thus far.
https://seekingalpha.com/news/3504535-smiledirectclub-hits-new-lows-11-percent
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