The orthodontist uses a process called invisalign to straighten patients' teeth.
Sammy Dallal | Getty Images | Digital First Media |
Align Technology, the company that produces Invisalign's clean teeth, sank on Thursday against the backdrop of China's heavy warning and weaker-than-expected results. statement that Invisalign for the second quarter was lower than expected, "mainly due to softness in China, linked to a tighter consumer environment." According to Wall Street, Align will deliver 382,900 cases, according to FactSet. Align shares fell by more than 25% at the beginning of trading on Thursday. "Given the uncertainty in China, our prospects for the third quarter reflect a more cautious look at growth in the Asia-Pacific region," Hogan said. Align expects earnings in the third quarter to range between $ 1
Moreover, Align's profits for the second quarter did not reach expectations. The company earned $ 1.33 per share, much lower than the Refinitiv's estimate of $ 1.51. , The US delegation will arrive in China next week for further talks on this issue. Subscribe to CNBC on YouTube.