Latest news for SmileDirectClub (OTC:SDCCQ) Stock

SmileDirectClub Inc is engaged in the orthodontics business. It is mainly involved in the sale of aligners, impression kits, whitening gel, and retainers. The company has one operating segment, aligner products.

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SDCCQ

SmileDirectClub Inc (OTC: SDCCQ) shut down after filing for bankruptcy in the U.S. in September.

Once High-Flying Direct-To-Consumer Dentistry Company SmileDirectClub Shuts Down

SMILEDIRECTCLUB INC A by SmileDirectClub, Inc.

SmileDirectClub Inc

TRNR

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

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FCEL

Chardan Capital analyst Daniil Gataulin maintains Ocugen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCGN#NASDAQ">OCGN</a>) with a Buy and maintains $6 price target.

Price Target

Analyst Ratings

OCGN

Chardan Capital Maintains Buy on Ocugen, Maintains $6 Price Target

Chardan Capital analyst Matthew Barcus maintains Zura Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZURA#NASDAQ">ZURA</a>) with a Buy and lowers the price target from $14 to $12.

ZURA

Chardan Capital Maintains Buy on Zura Bio, Lowers Price Target to $12

Canaccord Genuity analyst Yuri Lynk upgrades Stantec (TSX:<a class="ticker" href="https://www.benzinga.com/stock/STN#TSX">STN</a>) from Hold to Buy and raises the price target from C$125 to C$135.

Upgrades

TSX:STN

Canaccord Genuity Upgrades Stantec to Buy, Raises Price Target to C$135

Wells Fargo analyst Andrew Bauch maintains Affirm Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) with a Overweight and raises the price target from $52 to $55.

AFRM

Wells Fargo Maintains Overweight on Affirm Holdings, Raises Price Target to $55

Loop Capital analyst Yun Kim maintains Dynatrace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DT#NYSE">DT</a>) with a Hold and raises the price target from $45 to $55.

Loop Capital Maintains Hold on Dynatrace, Raises Price Target to $55

GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>), SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>), Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Cassava Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAVA#NASDAQ">SAVA</a>) and Anavex Life Sciences Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVXL#NASDAQ">AVXL</a>) are the top five trending tickers on Stocktwits Friday. Here&#8217;s a look at what grabbed <a href="https://www.benzinga.com/trading-ideas/24/11/41856335/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-42">retail investors&#8217; attention.</a>
GME GM-Meme: GameStop tops the list this week. The stock moved on heavy volume and zero fundamentals Friday, as the original meme-stock tends to do. Keith Gill, a.k.a. Roaring Kitty, dumped his Chewy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) shares at the <a href="https://www.benzinga.com/news/24/10/41614177/roaring-kitty-puts-chewy-stock-in-the-litter-box-gamestop-shares-move-higher-after-hours">end of October </a>and GameStop has climbed steadily since.&nbsp;
SOFI Surges: SoFi shares have climbed 17%<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/41847971/jim-cramer-this-tech-stock-is-a-buy-sofi-technologies-is-good"> this week</a> as investors hope for deregulation under a second Trump presidency. The stock pumped on heavy volume and ended the day more than 9% higher. 
Read Next: <a href="https://www.benzinga.com/news/24/11/41781921/what-does-trumps-victory-mean-for-ev-giant-tesla-and-the-big-3-automakers">What Does Trump&#8217;s Victory Mean For EV Giant Tesla And The Big 3 Automakers?</a>
TSLA For President: Tesla shares blasted higher after Donald Trump won the presidential election. Tesla CEO Elon Musk joined Trump several times on the campaign trail and may even be appointed to a position in the administration.&nbsp;
Investors may also consider Trump's EV and tariff policy beneficial to Tesla, as both could potentially reduce competition for the U.S.-based EV giant. The stock has been up 30% since Tuesday, and its market cap has <a href="https://www.benzinga.com/news/management/24/11/41856784/elon-musks-wealth-tops-300-billion-as-teslas-market-cap-soars-above-1-trillion">now reached </a>more than $1 trillion. 
SAVA: Cassava Sciences is a frequent flier on the Stocktwits trending list. HC Wainwright &amp; Co. analyst Vernon Bernardino reiterated Cassava Sciences as a Buy and maintained an ambitious price target of $116 on Friday. The stock is currently trading at just under $27. 
AVXL: Anavex Life Sciences rounds out the list as another heavily-shorted biotech stock that moved on heavy volume, despite a lack of news. According to data from Benzinga Pro, 21.78% of shares are being sold short, and the stock saw more than triple its average trading volume on Friday. 
GME, SOFI, TSLA, SAVA, AVXL Price Action: According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, GameStop shares closed up 6.1% at $24.88, SoFi shares closed up 9.33% at $13.01, Tesla shares closed up 8.19% at $321.22, Cassava Sciences shares closed up 6.55% at $27.00 and Anavex Life Sciences shares ended the day up 21% at $9.24 on Friday.&nbsp;
Read More:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/general/biotech/24/11/41822473/trumps-potential-health-czar-robert-f-kennedy-jr-rattles-vaccine-stocks-shoot-first-reaction">Trump&#8217;s Potential &#8216;Health Czar&#8217; Robert F. Kennedy Jr. Rattles Vaccine Stocks: &#8216;Shoot First Reaction&#8217;</a></li>
</ul>
Image: Shutterstock

Biotech

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AVXL

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SOFI

TSLA

Friday's Top 5 Trending Stocks: What's The Scoop On GameStop, SoFi, Tesla?

Loop Capital analyst Alton Stump upgrades Domino's Pizza (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>) from Hold to Buy and raises the price target from $419 to $559.

Loop Capital Upgrades Domino's Pizza to Buy, Raises Price Target to $559

Jones Trading analyst Jason Weaver maintains GEO Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEO#NYSE">GEO</a>) with a Buy and raises the price target from $18.75 to $32.

Jones Trading Maintains Buy on GEO Group, Raises Price Target to $32

EF Hutton analyst Jason Kolbert maintains CytoSorbents (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTSO#NASDAQ">CTSO</a>) with a Buy and maintains $10 price target.

CTSO

EF Hutton Maintains Buy on CytoSorbents, Maintains $10 Price Target

Telsey Advisory Group analyst Dana Telsey maintains Warby Parker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WRBY#NYSE">WRBY</a>) with a Outperform and raises the price target from $19 to $22.

WRBY

Telsey Advisory Group Maintains Outperform on Warby Parker, Raises Price Target to $22

Rosenblatt analyst Kevin Cassidy maintains Ouster (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OUST#NYSE">OUST</a>) with a Buy and maintains $17 price target.

OUST

Rosenblatt Maintains Buy on Ouster, Maintains $17 Price Target

Rosenblatt analyst Catharine Trebnick maintains RingCentral (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNG#NYSE">RNG</a>) with a Buy and maintains $45 price target.

Rosenblatt Maintains Buy on RingCentral, Maintains $45 Price Target

Rosenblatt analyst Catharine Trebnick maintains Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) with a Buy and raises the price target from $85 to $90.

FTNT

Rosenblatt Maintains Buy on Fortinet, Raises Price Target to $90

Planet 13 Holdings Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PLNH#OTC">PLNH</a>) reported Friday afternoon a strong revenue increase of 29.7% year-over-year for Q3 2024, reaching $32.2 million. The growth was fueled by the expansion into the Florida market and solid performance at its Illinois store. 
Despite the revenue boost, the company posted a net loss of $7.4 million; still a significant improvement from the $46.3 million net loss in Q3 2023.
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<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can&#8217;t afford to miss out if you're serious about the business.</li>
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<h3 class="wp-block-heading">Improved Margins&nbsp;</h3>
The company's gross profit rose to $16.7 million, up from $11.1 million in the same quarter last year. Gross margins also improved, reaching 51.9%, compared to 44.7% previously. Planet 13 attributed the margin growth to enhanced yields from cultivation and higher margin sales in <a href="https://www.benzinga.com/topic/florida-cannabis">Florida</a>.&nbsp;
Operating expenses dropped sharply by 66.4%, thanks to reduced impairment losses, signaling better cost management.
Read Also:<a href="https://www.benzinga.com/general/health-care/24/11/41843261/kentucky-gov-beshear-the-jury-is-no-longer-out-kentuckians-want-medical-cannabis"> Kentucky Gov. Beshear: &#8216;The Jury Is No Longer Out,&#8217; Kentuckians Want Medical Cannabis</a>
<h3 class="wp-block-heading">Adjusted EBITDA And Future Outlook</h3>
Planet 13 reported an adjusted EBITDA of $1.3 million, a substantial increase from $0.2 million in Q3 2023, highlighting improved operating leverage.&nbsp;
In spite of consumer spending challenges, co-CEO Bob Groesbeck<a href="https://www.globenewswire.com/us/news-release/2024/11/08/2977890/0/en/Planet-13-Announces-Q3-2024-Financial-Results.html"> pointed out </a>the strategic focus on cash flow and scaling its footprint.
"Despite Florida not moving forward with adult-use [cannabis legalization], we see a significant growth runway by expanding our store footprint and enhancing cultivation assets in the state. In addition to our<a href="https://www.benzinga.com/topic/florida-cannabis"> Florida operations</a>, we&#8217;re focused on driving growth by scaling our neighborhood store network and broadening the distribution of our HaHa edibles," said Larry Scheffler, co-CEO of Planet 13.
With $27.4 million in cash, up from $11.8 million at the end of 2023, Planet 13 is positioning itself for future growth. The company's expansion in Florida and recent acquisitions signal a commitment to broadening its market presence as it aims for profitability in 2025.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/11/41843751/canopy-growth-q2-net-revenue-drops-9-yoy-projects-positive-earnings-ahead">Canopy Growth: Q2 Net Revenue Drops 9% YoY, Projects Positive Earnings Ahead</a>

Cannabis

Earnings

Management

Markets

PLNH

Planet 13 Slashes Costs 66%: Revenue Grows, Losses Shrink — Is This The Turning Point?

Rosenblatt analyst Catharine Trebnick maintains Five9 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>) with a Buy and raises the price target from $45 to $50.

FIVN

Rosenblatt Maintains Buy on Five9, Raises Price Target to $50

Rosenblatt analyst Barton Crockett maintains Pinterest (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) with a Buy and lowers the price target from $48 to $46.

PINS

Rosenblatt Maintains Buy on Pinterest, Lowers Price Target to $46

Rosenblatt analyst Barton Crockett maintains Liberty Formula One Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FWONK#NASDAQ">FWONK</a>) with a Buy and raises the price target from $91 to $93.

FWONK

Rosenblatt Maintains Buy on Liberty Formula One Gr, Raises Price Target to $93

Macro factors limiting near-term growth in dental market, Needham says

SmileDirectClub to liquidate as buyout deal fails

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
SmileDirectClub (OTCMKTS:<a href="https://investorplace.com/stock-quotes/sdccq-stock-quote/">SDCCQ</a>) ceased operating on December 8 after it <a href="https://www.foxbusiness.com/markets/smiledirectclub-ceases-operations-after-restructuring-effort-fails">could not restructure</a> through bankruptcy proceedings. The once high-flying provider of dental aligners was one of many at-risk companies entering the final quarter of 2023.&nbsp;



Do you remember all the articles pitting SmileDirect against industry leader Align Technology (NASDAQ:<a href="https://investorplace.com/stock-quotes/algn-stock-quote/">ALGN</a>)? I sure do.&nbsp;



As recently as 2020, many investors and media pundits felt the former was a better buy than the latter. The Motley Fool&rsquo;s Keith Speights <a href="https://www.nasdaq.com/articles/3-reasons-to-buy-smiledirectclub-instead-of-align-technology-2020-02-09">suggested</a> in February 2020 three reasons SDC was a better buy than ALGN. However, looking closely, you&rsquo;ll see that Speights owned Align stock then. I&rsquo;m guessing the article was meant tongue-in-cheek.



My InvestorPlace colleague Josh Enomoto was more forthcoming in May 2020 about the risks involved in SDC stock. He <a href="https://investorplace.com/2020/05/smiledirectclub-is-a-luxury-that-few-care-about-in-a-recession-sdc-stock/">suggested,</a> &ldquo;The economy simply doesn&rsquo;t favor SDC stock.&rdquo;&nbsp;



And now it doesn&rsquo;t exist.&nbsp;



Who are other companies that could file for bankruptcy in 2024? Here are three at-risk companies to get you started.&nbsp;



<h2>Sabre (SABR)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/09/sabr-stock-1-300x169.jpg" alt="The logo for Sabre Corporation (SABR) is displayed on a smartphone screen."><div>Source: IgorGolovniov / Shutterstock.com</div></div>


The companies that made my list had three things going against them: 1) high total debt to earnings before interest, taxes, depreciation and amortization (EBITDA), 2) a low return on assets and 3) an Altman Z-Score below 1.81 &mdash; a sign the company could file for bankruptcy over the next 24 months.&nbsp;



According to Morningstar, one of the largest travel booking companies by volume has a total debt of <a href="https://www.morningstar.com/stocks/xnas/sabr/financials">$4.82 billion,</a> 582x its EBITDA of $8.28 million, a return on assets of <a href="https://www.morningstar.com/stocks/xnas/sabr/valuation">-12.52%</a> and an Altman Z-Score of <a href="https://www.gurufocus.com/term/zscore/SABR/Altman-Z-Score/Sabre">-0.43.</a>



In 2015, Sabre (NASDAQ:<a href="https://investorplace.com/stock-quotes/sabr-stock-quote/">SABR</a>) stock traded around $30, 7x higher than where it currently trades.



Through the first nine months of 2023, Sabre generated a non-GAAP loss of $135.4 million, down from a $254.4 million loss a year earlier, on <a href="https://investors.sabre.com/static-files/7da29e94-ff1e-48d8-87bf-b206636c8823">$2.2 billion</a> in revenue.&nbsp;



The bulls will point to the fact its adjusted EBITDA margin was 10.9%, 750 basis points higher than a year ago, a sign the business is coming around.&nbsp;



But is it?



Its interest expense in the third quarter was $119.4 million, 55% higher than Q3 2022. On an annualized basis, that&rsquo;s <a href="https://investors.sabre.com/static-files/6b90ecaf-3aaf-49e7-abd6-097e9f2f2f09">$478 million,</a> 62% higher than its interest expense in 2022.



That&rsquo;s a huge mountain to overcome.&nbsp;



<h2>Seagate Technology (STX)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/03/stx-stock-1-300x169.jpg" alt="A Seagate Technology (STX) sign hanging above an office in Silicon Valley, California."><div>Source: Sundry Photography / Shutterstock.com</div></div>


Seagate Technology (NASDAQ:<a href="https://investorplace.com/stock-quotes/stx-stock-quote/">STX</a>) has a total debt of <a href="https://www.morningstar.com/stocks/xnas/stx/financials">$5.67 billion,</a> 52x its EBITDA of $110.0 million, a return on assets of <a href="https://www.morningstar.com/stocks/xnas/stx/valuation">-9.39%</a> and an Altman Z-Score of <a href="https://www.gurufocus.com/term/zscore/STX/Altman-Z-Score/STX">0.25.</a>&nbsp;



You wouldn&rsquo;t know that its financials were less than stellar, given its stock is up nearly 63% year to date. However, that is the case for the data storage company.&nbsp;



Of the <a href="https://www.marketwatch.com/investing/stock/stx/analystestimates">24 analysts</a> that cover its stock, just 8 rate it Overweight or Buy, with 14 Holds and 2 Underweight or outright Sell, with a <a href="https://money.cnn.com/quote/forecast/forecast.html?symb=stx">$70</a> target price, well below where it&rsquo;s currently trading.



On a GAAP basis, Seagate lost $529 million in fiscal 2023 (June year-end). On a non-GAAP basis, it earned <a href="https://s24.q4cdn.com/101481333/files/doc_financials/2023/q4/STX-Q4-23-Press-Release.pdf">$40 million</a> on $7.38 billion in revenue. Its interest expense in 2023 was $313 million, up from $249 million a year earlier.&nbsp;



In Q1 2024, it lost <a href="https://s24.q4cdn.com/101481333/files/doc_financials/2024/q1/STX-FQ1-24-Press-Release.pdf">$184 million</a> (GAAP) and $46 million (non-GAAP). Its interest expense was $84 million, 18% higher than a year earlier. While the interest expense hasn&rsquo;t done the company in yet, it&rsquo;s got <a href="https://d18rn0p25nwr6d.cloudfront.net/CIK-0001137789/642e531d-584a-4a64-8683-9e2adab1064f.pdf">$1.75 billion</a> in debt with interest rates of 8.25% or higher that were issued in late 2022 and 2023.&nbsp;



If you own STX stock, you better hope interest rates decrease significantly in 2024, or its stock is sunk.



<h2>Century Aluminum (CENX)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/09/aluminum-stocks-3-1600-300x169.jpg" alt="stacks of rectangular aluminum metal stock"><div>Source: shutterstock.com/SimoneN</div></div>


Century Aluminum (NASDAQ:<a href="https://investorplace.com/stock-quotes/cenx-stock-quote/">CENX</a>) is the smallest of the three, with a market capitalization of just over $1 billion. Its shares are up nearly 27% in 2023.&nbsp;



It has a total debt of <a href="https://www.morningstar.com/stocks/xnas/cenx/financials">$512.0 million,</a> with a trailing 12-month EBITDA of -123.5 million, a return on assets of <a href="https://www.morningstar.com/stocks/xnas/cenx/valuation">-10.80%</a> and an Altman Z-Score of <a href="http://www.globeinvestor.com/">-0.30.</a> That is one score you don&rsquo;t want to be negative.&nbsp;



The Chicago-based aluminum producer reported better-than-expected Q3 2023 results in November. On the top line, its revenue was <a href="https://finance.yahoo.com/news/century-aluminums-cenx-q3-earnings-181400279.html">$545.2 million,</a> 14% lower than a year earlier but $3 million higher than the consensus estimate. On the bottom line, it lost 13 cents a share, 6 cents lower than analyst expectations and <a href="https://centuryaluminum.com/investors/press-releases/press-release-details/2022/Century-Aluminum-Company-Reports-Third-Quarter-2022-Results/">21 cents</a> less than its Q3 2022 loss.&nbsp;




&ldquo;Century remains focused on disciplined cost and operational execution and remains well positioned when market conditions improve,&rdquo; CEO Jesse Gary stated in its Q3 2023 press release.&nbsp;




The company&rsquo;s interest expenses in the nine months ended September 30 were $26.6 million, <a href="https://d18rn0p25nwr6d.cloudfront.net/CIK-0000949157/e7d1533a-fe3e-46e9-914f-7d4ed9e47a01.pdf">27.3%</a> higher than $20.9 million in the same period of your earlier. On an annualized basis, that works out to $35.5 million, <a href="https://d18rn0p25nwr6d.cloudfront.net/CIK-0000949157/eb3e9a7b-7086-4fad-83cd-60f6420005ed.pdf">21%</a> higher than in 2022.



If you look at the company&rsquo;s debt, except for 2.75% convertible notes due May 1, 2028 ($84 million), most is at interest rates between 7.5% and 9.25%. That&rsquo;s too high for a business that often loses more money than makes it.&nbsp;



On the date of publication, Will Ashworth did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines.</a>
<div>Will Ashworth has written about investments full-time since 2008. Publications where he&rsquo;s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2023/12/warning-signs-3-companies-that-might-not-survive-2024/">Warning Signs: 3 Companies That Might Not Survive 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Warning Signs: 3 Companies That Might Not Survive 2024

Align Technology, Henry Schein, Dentsply Sirona to benefit from dental aligners growth

Healthcare bankruptcies slow after peaking in 2023: report

Align to pay $27.5M to SmileDirectClub clients as antitrust lawsuit nears settlement

AHPIQ

AKUMQ

ALGN

ATHXQ

CANOQ

CENX

DMTKQ

GMDAQ

HGENQ

HSIC

NVST

NVTAQ

RADCQ

SABR

SAUHF

SAUHY

SONX

SRNE

VRAYQ

XRAY

ZIMV

SmileDirectClub

SmileDirectClub Inc&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/sdccq#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SDCCQ</a>) shut down after filing for bankruptcy in the U.S. in September.

Founded in 2014, the company sold teeth aligners for $1,850 as a faster, cheaper alternative to braces and took a direct-to-consumer marketing approach.&nbsp;

SmileDirectClub went public via an initial public offering of&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/09/35017733/smiledirectclub-files-for-chapter-11-bankruptcy-just-four-years-after-1-35-billion-ipo" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">$1.35 billion in 2019</a>.

On its website, SmileDirectClub&nbsp;<a class="editor-rtfLink" href="https://smiledirectclub.com/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">said</a>&nbsp;it decided to wind down its global operations immediately.&nbsp;

For new customers interested in SmileDirectClub services, aligner treatment is no longer available through the telehealth platform. For existing customers, the customer care support is no longer available.

In the statement on its website, Smile Direct Club apologized for the inconvenience caused.

SmileDirectClub catered to over two million customers across almost ten years.&nbsp;

As court filings and financial statements revealed, the company struggled to profit, burdened with almost $900 million in debt.&nbsp;

Additionally, the company resolved a lawsuit from the District of Columbia Attorney General&#39;s office this year. The lawsuit alleged that SmileDirectClub&nbsp;<a class="editor-rtfLink" href="https://www.nytimes.com/2023/12/09/business/smiledirectclub-shutting-down-liquidation.html" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">utilized</a>&nbsp;confidentiality clauses to suppress consumer criticism, the New York Times noted.

SmileDirectClub actively pursued potential buyers for its enterprise in the last few months. Although there was initial interest from several parties, all interested buyers either withdrew from the process or submitted impractical bids that couldn&#39;t be considered viable, the&nbsp;<a class="editor-rtfLink" href="https://fortune.com/2023/12/08/smiledirectclub-to-liquidate-bankruptcy/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Fortune</a>&nbsp;noted.

&quot;When it came to the founder-led bid, it was really a Hail Mary,&quot; Winters told US Bankruptcy Judge Christopher Lopez. &quot;We pushed very, very hard this week, and it just didn&#39;t come together.&quot;

&quot;We turned over every rock,&quot; Winters said in the hearing, adding he thought as recently as Thursday that a going-concern sale was still feasible.

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