7 Reasons Teladoc Will Be a Top Growth Stock in 2020
With interest rates and inflation near record lows, recession concerns subsiding, and the upcoming election providing an incentive for the Trump administration to tamp down worries over trade, it's no mystery why major market benchmarks are hitting new records. Investors looking over the growth stock landscape are seeing high valuations, but there are opportunities in stocks that are riding strong trends that promise to continue for years.
One such stock is Teladoc Health (NYSE: TDOC). The company is the largest global supplier of virtual healthcare services, linking patients with doctors and other medical experts over the internet, a low-cost and convenient method of delivering healthcare that expanding rapidly around the world. Here are seven reasons why the telehealth stock is a great pick for 2020 and beyond.
Teladoc has an attribute that's something of a holy grail for growth stock investors: a dominant position in a market with explosive growth. The global telehealth market is expected to expand at an 23% annual rate over the next few years, reaching $267 billion by 2026. That's a tremendous tailwind for the global leader in the space, driven by societal needs to lower healthcare costs and improve access in rural communities.
Source Fool.com