The leaders of five-year-old SmileDirectClub have introduced a retail suite of oral care products to be sold exclusively at Walmart stores in the United States.
The retail rollout includes an electric toothbrush ($25), a teeth whitening system ($40), toothpaste, a water flosser and an ultrasonic UV cleaner that sanitizes toothbrush heads, aligners, retainers and dentures.
“SmileDirectClub's debut of oral care products in mass retail extends our mission to be the consumer's first resource for safe, affordable, and convenient oral care solutions,” Josh Chapman, chief global brand officer of SmileDirectClub, said in a press release. “Partnering with Walmart to introduce our products reinforces our shared commitment to providing premium quality products at a price worth smiling about.”
Investors’ initial reaction to the brand extension was very positive: SmileDirect’s shares (Ticker: SDC) popped nearly 22 percent Monday to $10.19, their highest level since mid-November. On Tuesday morning, they were changing hands at $10.20 — still less than half their IPO price of $23 from September as the company has struggled to gain the confidence of analysts and has faced a number of legal challenges from investors, consumers and doctors.
CoreCivic executives this week said they have paid $83.2 million for 28 properties leased to various federal government agencies. The deal doubles the portfolio of the Brentwood-based company — which converted to a real estate investment trust seven years ago — when measured by buildings and adds 445,000 square feet to the roughly 2.4 million square feet it already owned.
The 28 newly acquired buildings are located throughout the Mid-South and were all built specifically for federal tenants. Their average age is 15 years and the portfolio's weighted average remaining lease term is about five and a half years.
Shares of CoreCivic (Ticker: CXW) were down about 1 percent Tuesday morning to $15.93. Over the past six months, they have fallen about 20 percent.