Why Amwell Blasted Higher on Wednesday

American Well (NYSE: AMWL), also known as Amwell, rose as high as 16% on Wednesday before settling down to a still-impressive 8% gain on the day.

The catalyst seems to be a report the company released on Tuesday indicating sharper-than-expected take-up of telehealth services, Amwell's stock in trade.

The 2020 edition of Amwell's annual Physician and Consumer Survey found that both healthcare practitioners and patients anticipate using telehealth services more frequently after the coronavirus pandemic -- assuming it ever ends -- than they did in the times before the outbreak.

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Source Fool.com