What to Watch Before the Close Friday: SmileDirectClub, Tesla and Coronavirus

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Before the closing bell rings and the weekend begins, let’s go over the top three stories Friday afternoon.

Tesla's Secondary Share Offering

Tesla priced its secondary share offering at $767.

The company is offering 2.65 million shares.

The offering will raise more than $2 billion.

As I reported Thursday, Tesla CEO Elon Musk is buying $10 million worth of shares, and board member Larry Ellison is purchasing around $1 million worth.

Tesla was trading around $800 before the close Friday.

The stock is up around 160% in the past year.

Then There's the Coronavirus

Beijing has set new quarantine rules, demanding that everyone returning to Beijing isolate themselves for 14 days.

The strict rules were set in hopes of preventing an outbreak in the city.

Before we head into the weekend, here are some of the most recent numbers on the virus.

We have nearly 65,000 cases globally, with around 1,300 deaths.

SmileDirectClub's Shares Are Sinking in Intraday Trading

And, finally, let’s talk about what’s sending SmileDirectClub (SDC) - Get Report shares sinking.

NBC Nightly News with Lester Holt ran a report on SmileDirectClub Thursday.

The segment included accounts from several customers, who claimed that their teeth were damaged by SmileDirectClub’s aligners.

On Friday morning, the company “bit back” at the report, claiming that it wasn’t a fair and balanced story.

The company said that the report misrepresents SmileDirectClub and the “quality of care provided” by its 250 state-licensed dentists and orthodontists across the country.

Shares were down over 15% ahead of the closing bell.

The company is up around 47% year-to-date.

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