If you have the money on hand to add to your portfolio in the current market, there's no shortage of companies on sale to consider today. While some stocks may be trading down for valid reasons, other companies that have seen prices fall significantly over the last year may be garnering an overreaction from investors and worth a second look.

If you have $1,000 to invest right now, here's one such stock that's currently trading down well over 50% from a year ago, but may still be a wise investment for individuals with a long-term, buy-and-hold horizon.

Few stocks were as popular at the height of the pandemic as Teladoc Health (NYSE: TDOC). The market leader in telehealth -- a rapidly growing industry on track to hit $636 billion by 2028 -- Teladoc had an incredibly appealing business model for investors seeking to capitalize on the stay-safe-at-home and work-from-home booms.  

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Source Fool.com