Why Now Is the Time to Buy Telehealth Stocks
Telehealth is one sector that investors have been particularly bearish on this year. The Global X Telemedicine & Digital Health ETF has fallen 33% since the start of 2022, which is notably worse than the S&P 500's 24% decline over the same period. Despite promising growth opportunities in telehealth and the digitalization of healthcare, investors have been shunning these stocks.
Shares of top telehealth company Doximity (NYSE: DOCS) are down 42%, and other stocks are down even more. But buying shares of these companies right now could be a profitable, contrarian move to make. Let's take a closer look.
Last month, research and analytics company J.D. Power released the results of its 2022 U.S. Telehealth Satisfaction Study. There were many encouraging numbers from the study, suggesting that despite a return to normal in healthcare, telehealth adoption isn't likely going back to pre-pandemic levels.
Source Fool.com
