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SmileDirectClub flops in one of the worst-performing IPOs in decades

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Jay Ritter

“Proving that investors will not always tolerate money-losing tech companies going public, online ‘teledentistry’ startup SmileDirectClub flopped on its Nasdaq debut on Thursday with shares in the company down 27.5% as of the close of regular trading, making it one of the worst-performing initial public offerings in 29 years,” writes Silicon Angle. 

Cordell Eminent Scholar Chair Jay Ritter shares in the Silicon Angle article as well as in an article by the Financial Times that SmileDirectClub share’s percentage slide was the third-worst among IPOs of more than $100 million since 1990. 

Read what else Ritter had to say to Silicon Angle and the Financial Times