Is Now a Good Time to Buy Teladoc Stock?
For the full fiscal year ended Dec. 31, 2020, Teladoc Health (NYSE: TDOC) saw its revenue soar by 98% as it quickly became a household name and a COVID stock darling. As a result, the company's stock price soared by over 130% from January 2020 to year end in December. This increase was far and away higher than the S&P 500's return of 18.4% during the same period. However, 2021 has been a different story.
Teladoc stock has been trading in a downward spiral, and now it's 68% off its highs. Furthermore, as investors rerate risk and consider potential interest rate hikes and inflation concerns, some may be selling in an effort to move toward cash. These dynamics have led to valuation compression across the broader market. However, there are some investors who are viewing these pullbacks as an opportunity to buy. Let's dig in and find out if this decline is warranted, or if this represents an opportunity to buy a great growth stock at a discount.
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Source Fool.com
