Tradebots has issued a buy alert on SmileDirectClub, Inc. (SDC:NASDAQ) Wednesday September 15th, 2021.
We have detected an all time high daily trading volume recently reaching around 60 million shares. The previous all time high trading volume was around 55 million shares recorded on its IPO day on September 2019 and the share price reached all time high on IPO day around $23.00. The recent all time high trading volume happened relatively close to the all time low trading ranges at $3.64 .
“Volume precedes price” is a Wall Street adage that’s particularly relevant if one studies volume in big transactions. Does the current all time high volume precedes a higher share price or lower price? The share price should be going much higher soon as we believe the revenue/profit outlook and macro business environment are going to improve.
Why do we have confidence that this company is going to do better in the future? Our confidence come from the recent news that Marvel’s ‘Shang-Chi’ blasts Labor Day records at the box office, debuting with $71.4M. This indicates that human behavior is gradually going back to “normal”. People are becoming more comfortable to go to public with sufficient safety measure in place. We know a lot of people cancelled/postponed their dental appointment during the COVID pandemic. With increasing human interaction, people are going to want to look their best and this will benefit SDC when people rebook their dental appointment once again.
We will keep accumulate shares below $6.00 and we plan to hold this for at least a year. This is an easy diamond hand opportunity for us. The market research report here shows promising outlook for the global clear aligners market.
“The global clear aligners market size was valued at USD 2.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 27.3% from 2021 to 2028.”
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