Down 59% Today, Is Teladoc Stock a Buy After Its Spectacular Fall from Grace?
Patients and investors flocked to Teladoc Health (NYSE: TDOC) during the early days of the pandemic. Patients did it to avoid contact with others. Investors did it to benefit from the company's incredible growth. Revenue and virtual visits were soaring in the triple digits. And the stock climbed more than 240% from the start of 2020 through early last year.
Since then, the story has changed. Revenue and visits continue to rise -- in the double digits. That's still impressive growth. But investors have started to worry about competition, the company's ability to eventually generate a profit, and a recent goodwill impairment charge. As a result, the stock has tumbled 59% so far this year. After this fall from grace, is Teladoc finally a buy?
First, let's take a closer look at the problems. Teladoc is a leading provider of online medical visits. But it does face competition. In fact, the company said smaller rivals did two things to upset its first quarter.
Source Fool.com
