Why Shares of Teladoc Dropped 12.2% in September
Shares of online healthcare company Teladoc (NYSE: TDOC) dropped 12.2% in September according to data provided by S&P Global Market Intelligence. The stock opened at $144.86 per share on Sept. 1 and closed at $126.81 on Sept. 30, the final day in the month that markets were open; and it never really rallied throughout the month.
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Investors are seeing the stock as too COVID dependent, in that its business plan is reliant on people staying at home and out of their doctors' offices. From 2018 to 2019, the company's annual revenue climbed 32%, but last year, once the pandemic hit, Teladoc's annual revenue rose 97.8%.
Source Fool.com
