The action in the afterhours trading period can often be quite frenetic and significant gainers might emerge during the period. One of the stocks to have emerged as a major mover during the afterhours trading period yesterday was SmileDirectClub (NASDAQ:SDC).
Trading Data
On Monday, SDC stock jumped 2.05% to $1.99 with more than 10.96 million shares, compared to its average volume of 9.63 million shares. The stock has moved within a range of $1.7550 – 1.9900 after opening trade at $1.89.
Key Trigger
Amidst heavy action, the stock ended up with gains of as much as 11% in afterhours trading and is possibly poised to be in action yet again this morning. The rally may have come as welcome change for many of the investors in SmileDirectClub considering the fact that in the past 12 months, the stock had been in the middle of a poor run.
During that period, the stock had declined by as much as 83%. The company is involved in the dental alignment products business and the decline in the stock was not brought about by any kind of speculation or overreaction from investors.
Although it is true that SmileDirectClub does have an interesting business with potential for growth, the company has not been able to bring about meaningful growth. Results have been poor in recent times and that is one of the main factors behind the poor stock performance in the past 12 months. It remains to be seen if the stock can add to its gains day.
Technical Data
SDC stock is trading below the 20-Day and 50-Day Moving averages of $2.24 and $2.77 respectively. Moreover, the stock is trading below the 200-Day moving average of $6.08.
