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Stock Alert: SmileDirectClub Shares Up 33% On SmileShop Patent News

Shares of SmileDirectClub Inc. (SDC) are surging over 33% in pre-market today, after the company announced that it has been granted a patent for its SmileShop intellectual property from the United States Patent & Trademark Office.

The company noted that the patent, U.S. Patent No. 10,636,522, further strengthens the telehealth dentistry pioneer's efforts to bring affordable, accessible oral care to more people through its unique and innovative teledentistry platform and direct-to-consumer business model. The patent ensures no clear aligner competitor would be able to duplicate SmileDirectClub's unique model for 18 years.

The company also announced it is making plans to slowly reopen its SmileShops beginning in May in the U.S., Canada, Germany, Australia, New Zealand, the UK and Ireland as local governments begin to lift business restrictions.

The stock has been trading between $3.64 and $21.10 in the past one year, and closed Monday's trade at $5.39, up 11 cents or 2.08%. SDC is currently trading at $7.19, up $1.80 or 33.40% in the pre-market trading session.

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