Here's Why Buying This Beaten-Down Stock Now Could be a Genius Move
Teladoc Health's (NYSE: TDOC) business and share price soared in the earlier days of the pandemic. That's as patients opted for virtual medical visits over in-person contact. These days, Teladoc's business continues to grow. But many investors have lost confidence in this telehealth leader.
Investors worry Teladoc may struggle to reach profitability -- and that its best days may be in the past. Since the start of the year, Teladoc shares have dropped more than 60%. This picture may look dim. But that's only if we take a short-term view. If we take a long-term view, buying this beaten-down stock now could be just the right move. Here's why...
First, let's go into a bit more detail about why some investors have turned their backs on Teladoc. The company has delivered some bad news in recent months. It recorded two billion-dollar non-cash goodwill impairment charges. This implies Teladoc paid too much when it bought chronic care specialist Livongo back in 2020.
Source Fool.com
